Minda Industries Ltd to expand capacity at Bawal plant and Gujarat plant

The Board of Directors of Minda Industries Ltd. at its meeting held today i.e. 27th March, 2021, has approved the expansion of the Bawal (Haryana) Plant of Minda Kosei Aluminum Wheel Private Limited.

The aluminium alloy wheel for OEMs is being manufactured by Minda Kosei Aluminum Wheel Private Limited, a material subsidiary of the company. Minda Kosei has two plants in India. 1st plant is located in Bawal, Haryana and the 2nd plant in Dekavada, Gujarat.

Minda Kosei has proposed expansion of its Bawal Plant capacity from 1,20,000 wheel per month to 1,80,000 wheel per month. Board reviewed and approved the Detailed Project Report (DPR) of Minda Kosei. The fresh investment approved is Rs. 167 Crore. The expanded production is expected to start from 1st January, 2022.

The board also approved the investment for setting up a new project for 4 Wheel Lighting in Gujarat. The project cost approved is Rs. 89 .69 Crore.

The project is expected to be commissioned by January, 2022.

Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.541.65 as compared to the previous close of Rs. 543.1. The total number of shares traded during the day was 359853 in over 1484 trades.

The stock hit an intraday high of Rs. 561.95 and intraday low of 540. The net turnover during the day was Rs. 196433262.

Source : Equity Bulls

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