Minda Industries rallies 9% post Q4 results and 1:1 bonus issue

The management believes that the auto industry is at the cusp of revival, with favorable governmental policies and more new product launches planned by OEMs for the coming year.

Shares of Minda Industries rallied 9 per cent to Rs 906.45 on the BSE in Wednesday’s intra-day trade after the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held.

The company has fixed June 10, 2022 as the record date for the purpose of determining the eligibility of shareholders or beneficial owners, who shall be entitled to receive the bonus shares.

Meanwhile, for January-March quarter (Q4FY22), Minda Industries posted a healthy performance as consolidated revenue jumped 10.7 per cent quarter on quarter (QoQ) to Rs 2,415 crore