Minda Corporation rose 1.36% to Rs 557.95 after the company announced that its board will meet on Thursday, 12 September 2024 to consider raising of funds through issuance of equity shares or any other equity based instruments.
The funds would be raised by issuance of equity shares or any other equity based instruments includes preferential issue, qualified institutions placement, rights issue or any other permissible mode or any combination.Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.
The companys consolidated net profit surged 42% to Rs 64.20 crore in Q1 FY25 as against 45.21 crore posted in Q1 FY24. Revenue from operations jumped 11% YoY to 1,192.39 crore for the quarter eneded 30 June 2024.
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