Minda Corp shares extend gains after stake buy by Ashish Kacholia

Amtek Auto
Shares of Minda Corporation were up by 1.5% at Rs 204 per share on Tuesday, extending its Monday’s 15% rally on the BSE, after investor Ashish Kacholia bought an over one million shares of auto ancillary company through open market.

On April 23, 2018, Ashish Kacholia had purchased 1.08 million shares or 0.52% equity of Minda Corporation at Rs 182 each on the BSE, the bulk deal data shows.

The name of sellers not ascertained immediately.

Minda Corporation is one of the largest suppliers of 2-wheeler, 3-wheeler and off road vehicles electronic & mechanical security system. The company is a diversified company with a product port folio encompassing from mechanical & electronic security system, door system, electronic controllers for electric vehicles, plastic interiors and for auto OEM's across the Globe.

At 09:29 am; the stock was trading 1% higher at Rs 203 against 0.42% rise in the S&P BSE Sensex. A combined 494,506 shares changed hands on the counter on the NSE and BSE so far.

In past six months, Minda Corporation outperformed the market by surging 43% as compared to 6% rise in the benchmark index.


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