Minda Industries is in the limelight today morning. The stock price rose almost 6.5% to Rs.384.15, with volumes going up around 2.5 times.
The company’s Board yesterday gave its nod for setting up a new manufacturing plant of two-wheeler alloy wheel in Maharashtra.
The capex planned for this is around Rs.500 crore. The project is to be completed in two phases. In the first phase, Rs. 300 crore will be undertaken within two years and thereafter the second phase will be undertaken.
The company has scheduled to begin production by Nov’19.