The initial investment outlay for the plant is Rs 255 million, and the first phase of the facility is expected to be commissioned by April 2019
The stock soared 10% to Rs 1,223 on the BSE after the company reported a consolidated net profit at Rs 1.35 billion in March quarter against Rs 560 million in year ago quarter
The stock rallied 13% to Rs 330 on the BSE.
The JV manufactures air cleaner assembly for automobiles and supplies to companies, including Maruti Suzuki, Honda
All its companies to be consolidated under an umbrella company Minda Industries to achieve greater operational flexibility and economies of scale
The joint venture shall initially focus on producing and selling products such as plastic oil pans and cylinder head
The stock has rallied 8% to Rs 910 on the BSE