Uno Minda Ltd Share Price – NSE  / BSE

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The frontline indices traded with modest gains in morning trade. The Nifty traded above the 26,050 mark and hit record high of 26,067. IT shares gained after declining in the past trading session. The market could be volatile due to monthly F&O series expiry today.

At 10:30 IST, the barometer index, the S&P BSE Sensex rose 236.62 points or 0.28% to 85,400.13. The Nifty 50 index added 62.85 points or 0.24% to 26,067.

The Sensex and Nifty clocked an all-time high of 85,433.31 and 26,067, respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index fell 0.50% and the S&P BSE Small-Cap index shed 0.34%.

The market breadth was positive. On the BSE, 1,545 shares rose and 2,063 shares fell. A total of 163 shares were unchanged.

Buzzing Index:

The Nifty IT index gained 0.67% to 42,243. The index shed 0.67% in the past trading session.

Persistent Systems (up 0.95%), HCL Technologies (up 0.78%), LTIMindtree (up 0.73%), Wipro (up 0.6%), Infosys (up 0.59%), Mphasis (up 0.56%) and Tata Consultancy Services (up 0.46%) advanced.

On the other hand, Coforge (down 0.91%), L&T Technology Services (down 0.1%) and Tech Mahindra (down 0.09%) edged lower.

Stocks in Spotlight:

Uno Minda shed 0.63%. The company said that its arm has entered into agreement with Korea-based Hyundai Mobis to manufacture licensed products like speakers.

Cipla added 0.02%. The company’s UK-based arm has signed a pact to acquire a 6.9% stake held by Jiangsu Xidi Pharma in a China-based unit post-acquisition Jiangsu to become a wholly owned step-down subsidiary of the company.

JBM Auto fell 0.50%. The firm said that it has incorporated unit JBM Electric Vehicles in Singapore to carry on the business in the automotive sector for electric vehicles internationally.

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Minda Onkyo India, subsidiary of Uno Minda has entered into a technical license agreement with Hyundai Mobis Co., Korea on 25 September 2024 for manufacturing of licensed products i.e. speakers.

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Uno Minda announced its expansion in Indonesia and India. The company's wholly owned subsidiary, PT Minda Asean Automotive (PTMA), has secured additional orders, including orders for long tail lamps for passenger cars from OEMs in Indonesia. To meet this growing demand, Uno Minda will establish a new manufacturing facility in Indonesia, expected to be operational by Q4 FY26.

Uno Minda has been a significant player in the Indonesian market since 2005, when it established its first manufacturing facility. PTMA currently supplies components and systems to major two-wheeler OEMs in the country. The new plant will enable Uno Minda to diversify its product offerings and cater to the growing demand for passenger car components. Once the new plant is commissioned, the existing plant will also be relocated to the new site to consolidate operations and achieve economies of scale. The total capital expenditure for the new plant is estimated at Rs 210 crore.

In addition to its Indonesian expansion, Uno Minda is also expanding domestic capacities. The Company's one of the key subsidiary Uno Mindarika Private ( UMRPL) had recently set up a new plant in Farrukhnagar, Gurugram, Haryana. In phase 1 of this new plant, it had set up manufacturing facilities for part products to be used for manufacturing of automotive switches. UMRPL will be shifting existing manufacturing plant from Manesar, Nawada Fatehpur, Haryana to Farrukh Nagar, Haryana in Phase-II with an Investment of Rs 120 crore. The phased relocation will be completed by Q3 FY27, ensuring uninterrupted supply to customers and provide flexibility for future growth.

In addition to the above expansion in Indonesia and India, the company's joint venture company, Toyoda Gosei Minda India, through its subsidiary Toyoda Gosei South India, will be setting up a new plant in Harohalli, Karnataka. This facility will manufacture safety systems (airbags, steering wheels, etc.) and interior and exterior products (console boxes, etc.) to meet the increased demand. The total capital expenditure for this new plant in Harohalli is estimated at Rs 283 crore, with operations expected to commence in Q1 FY27.

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Uno Minda announced that Ramesh KS has been appointed as Chief Executive Officer (CEO) for ECS-2 Domain of the Company w.e.f. 17 August 2024.

He shall report to Nirmal Kumar Minda, Chairman and Managing Director of the Company.

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