Small-cap company with a 40% market share in vehicle access control systems and one of India’s leading auto suppliers, its shares climbed 2.8% on Wednesday session.
Shares of Minda Corporation Ltd jumped a day after financial services group Societe Generale bought 17.28 lakh shares in the company.
As per the report, Societe Generale, a European financial services company, purchased 17.28 lakh equity shares through open market transactions at an average cost of Rs 281 per share. The cost of the share purchase was Rs 48.57 crore.
At 12:31 pm, the shares of the company were trading at Rs 289.45 apiece on the NSE, up 1.72 percent.
On a year-to-date basis, the stock has gained 41.71 percent ranging from Rs 205 to current levels.
Minda Corporation Limited is engaged in manufacturing Die Casting Parts for the auto and consumer durable industries, as well as producing Electronic Controllers for Electric Vehicles, Plastic Interiors, and Auto OEMs across the Globe.
According to financial comparisons, revenues rose from Rs 2,975 crore in FY 21–22 to Rs 4,300 crore in FY 22–23, a 44 percent rise year over year and the net profit increased by 60 percent from Rs184 crore to Rs 294 crore.
In FY 22–23, profitability ratios have risen significantly higher. The debt-to-equity ratio is 0.35, ROE is 17.88 percent and ROCE is 17.34 percent.
As per the shareholding pattern for the fiscal year 22–23, the promoters of the firm have a 64.73 percent stake, foreign institutional investors own a 5.06 percent interest, and domestic institutional investors own an 11.84 percent stake.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
