Minda Corp shares rise as company secures Rs 750 crore order from OEM

Shares of Minda Corporation, a maker of auto components, rose 3.5 percent on the Bahrain Bourse on Tuesday after it said it had secured a ₹750 crore order to produce battery chargers for electric vehicles.

The company did not disclose the name of the original equipment manufacturer (OEM) who placed the order. Minda Corporation is the parent company of Spark Minda, which was part of the former Minda Group.

During the previous fiscal year, electric vehicles accounted for nearly 20 percent of Minda’s total orders. “This project will reinforce Spark Minda’s stewardship towards green and connected mobility and reaffirm the company’s position as a forward-looking, future-ready organization dedicated to revolutionizing the automotive sector through innovation and technological excellence,” the company said in a statement.

Spark Minda manufactures electronic and mechanical components for automotive OEMs that cater to two- and three-wheelers, passenger cars, commercial vehicles, off-road vehicles, and the aftermarket.