Hot Pursuit     20-Jun-24
Uno Minda jumps after broker initiates coverage
Uno Minda rose rose 2.28% to Rs 1079.70 after a foreign broker initiated coverage on Uno Minda with a "Buy" rating and a bullish target price of Rs 1,350.
Following the upgrade, shares of Uno Minda hit a record high of Rs 1,180.80 today.

The brokerage report highlighted the company's strong positioning within the growing Indian auto components industry. Uno Minda currently holds a dominant market share, exceeding 50% in auto switches and 40% in 4-wheeler alloy wheels.

However, the report also acknowledged potential risks to Uno Minda's future performance. These include maintaining its peak switches share, potential slowdowns in the automobile sector, and balancing growth focus with free cash flow generation.

Uno Minda is a leading global manufacturer and supplier of proprietary automotive solutions and systems to OEMs as Tier-1. The company is one of the leading manufacturers of automotive switching systems, automotive lighting systems, automotive acoustics systems, automotive seating systems and alloy wheels in India.

The company’s consolidated net profit jumped 58.3% to Rs 289.11 crore in Q4 FY24 as compared with Rs 182.65 crore in Q4 FY23. Revenue from operations increased 31.3% YoY to Rs 3,794.02 crore in Q4 FY24.

Previous News
  UNO Minda to announce Quarterly Result
 ( Corporate News - 01-Feb-24   11:20 )
  Uno Minda jumps after broker initiates coverage
 ( Hot Pursuit - 20-Jun-24   15:15 )
  Minda Industries consolidated net profit declines 12.21% in the December 2021 quarter
 ( Results - Announcements 07-Feb-22   13:25 )
  Board of Minda Industries approves further investment in Auto Component
 ( Corporate News - 07-Feb-22   13:13 )
  Minda Industries allots 28.58 cr equity bonus shares
 ( Corporate News - 11-Jul-22   15:30 )
  Volumes spurt at Uflex Ltd counter
 ( Hot Pursuit - 26-Sep-23   11:00 )
  Minda Industries standalone net profit rises 7.64% in the December 2021 quarter
 ( Results - Announcements 07-Feb-22   12:38 )
  Board of Minda Industries approves formation of JV with FRIWO AG, Germany
 ( Corporate News - 10-Dec-21   19:38 )
  UNO Minda edges higher after signing technical pact with EVSE-maker Starcharge
 ( Hot Pursuit - 26-Mar-24   10:09 )
  Board of Minda Industries approves further investment in YA Auto Industries
 ( Corporate News - 07-Feb-22   13:10 )
  Uno Minda consolidated net profit rises 19.43% in the December 2023 quarter
 ( Results - Announcements 07-Feb-24   13:43 )
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