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Uno Minda Shares Rise After NCLT Clears Merger of 3 Companies

Updated on: Dec 20, 2024, 2:15 PM IST
Uno Minda shares surged 4.1% to ₹1,090 after NCLT approved the merger of Kosei Minda Aluminum, Minda Mould, and Minda Aluminum Wheel into the company.
Uno Minda Shares Rise After NCLT Clears Merger of 3 Companies
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Uno Minda’s shares made a jump today, on Friday with a 4.1% jump, reaching ₹1,090 per share at its peak on the Bombay Stock Exchange (BSE). The stock cooled off slightly to ₹1,073, still reflecting a solid 2.48% increase at 10:40 AM. With this rise, Uno Minda’s market cap stood at ₹61,607.72 crore. The stock has had a good year, gaining 60.5% year-to-date.

Why the Jump?

The rally was driven by the National Company Law Tribunal (NCLT) approving the merger of 3 companies, Kosei Minda Aluminum Company, Kosei Minda Mould, and Minda Kosei Aluminum Wheel into Uno Minda. The approval, dated December 18, 2024, marked a major step for the automotive component maker.

While the certified copy of the NCLT’s order is still awaited, the company has confirmed that it will file it with the Registrar of Companies within the prescribed time.

New Chapter for Uno Minda

This merger simplifies Uno Minda’s corporate structure, bringing the operations of these three companies under one roof. It’s aimed at streamlining operations and potentially boosting efficiency across the board.

Other Developments

In another update, Uno Minda has started commercial production at its new four-wheeler lighting facility in Khed, Pune. This expansion reinforces its manufacturing capacity in the automotive space.

Company 

Founded in 1958, Uno Minda is headquartered in Gurugram, India, and caters to two-wheeler, three-wheeler, and four-wheeler markets. Its products include lighting systems, switches, sensors, seating systems, and EV components. With operations in countries like Indonesia, Spain, and Japan, Uno Minda is present globally known for its focus on innovation and technology.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 20, 2024, 2:15 PM IST

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