Minda Industries to further invest in equity shares of JV Minda Onkyo India Private Limited

The Board of directors of Minda Industries Ltd have approved to subscribe 68,00,000 equity shares of Minda Onkyo India Private Limited (Minda Onkyo) of the face value of Rs. 10 (Rupees Ten) at par under right issue, aggregating to Rs. 6.80 Crore (Rupees Six Crore Eighty Lacs).

Minda Onkyo is a 50:50 joint venture company in which 50% stake is held by Onkyo Sound Corporation, Japan and 50% stake is held by Minda Industries Limited. Minda Onkyo is engaged in manufacturing, design and sales of speakers & related audio technologies.

Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.616 as compared to the previous close of Rs. 583.05. The total number of shares traded during the day was 66677 in over 3236 trades.

The stock hit an intraday high of Rs. 628.5 and intraday low of 589.05. The net turnover during the day was Rs. 40309348.

Source : Equity Bulls

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