Auto Ancillary stock engaged in manufacturing and supplying automotive components to major players like KTM, Triumph, TATA Motors, and many more jumped 5 percent in the day’s trade upon forming a new JV with a leading Taiwanese company.
With a market capitalization of Rs. 11,339 Crores, the shares of Minda Corporation Limited were trading at Rs. 474.30 per equity share, up 4 percent from its previous day’s close price of Rs. 456.20.
Minda Corporation Limited has signed a Joint Venture (JV) Agreement with HSIN Chong Machinery Works Co. Ltd. (HCMF) from Taiwan, a leading global manufacturer of Automotive Sunroof and Closure systems
The said JV is 50:50 ownership, formed to develop, put to use, manufacture, assemble, and commercialize the sale of Automotive Sunroof Solutions and Closure Technology Products for passenger cars and related components. This collaboration will offer advanced products and technologies in the vehicle access space, particularly for passenger cars increasing the Content per vehicle.
This Joint Venture shall be operational through the incorporation of a new joint venture entity. HSIN Chong Machinery Works Co. Ltd.(HCMF) shall provide an exclusive license to the JV Company to use HCMF’s know-how for manufacturing the said products in the Territory of India
This collaboration underscores its commitment to Atamnirbhar Bharat, as it strives to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles. Further, it is committed to expanding its four-wheeler segment offerings by enhancing kit value, ensuring greater benefits for the customers
With evolving consumer preferences and premiumization, the market for sunroof in India is expected to grow significantly. HCMF is a global technology leader in automotive Sunroof and Closure systems and this collaboration will offer advanced products and technologies in the vehicle access space, particularly for passenger cars increasing the Content per vehicle.
Minda Corporation Limited is engaged in the business of manufacturing and supplying automotive components like safety and security systems and many more associated components for the automotive industry.
Minda Corporation Limited has a strong customer base with well-known players like, Ashok Leyland, Bajaj Auto, Hero Moto Corp, KTM, Triumph, Tata Motors, and many more.
Its Revenue grew by 13 percent from Rs. 1,074.55 Crores in Q4FY23 to Rs. 1,214.98 Crores in Q4FY24, accompanied by profits of Rs. 123.95 Crores to Rs. 69.6 Crores.
Written by: Bharath K.S
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.
