Minda Industries gains after fixing record date for stock split

Minda Industries rose 2.17% to Rs 1,156.70 at 11:43 IST on BSE after the company announced that it has fixed 14 September 2016 record date for the purpose of 5-for-1 stock split.

The announcement was made after market hours yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 16.05 points or 0.06% at 28,107.39.

On BSE, so far 3,593 shares were traded in the counter as against average daily volume of 3,354 shares in the past one quarter. The stock hit a high of Rs 1,163.50 and a low of Rs 1,140 so far during the day. The stock had hit a record high of Rs 1,249 on 23 May 2016. The stock had hit a 52-week low of Rs 475 on 8 September 2015. The stock had underperformed the market over the past one month till 18 August 2016, sliding 2.75% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 2.8% as against Sensex's 9.41% rise.

The small-cap company has equity capital of Rs 15.87 crore. Face value per share is Rs 10.

On consolidated basis, Minda Industries' net profit jumped 98.7% to Rs 27.14 crore on 43.7% growth in net sales to Rs 759.81 crore in Q1 June 2016 over Q1 June 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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