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Shares of automotive solutions supplier Minda Industries Ltd rose 8.40 per cent to 372 rupees, their biggest daily percentage gain since July 11.
The company has approved setting up of a manufacturing plant for 2-wheeler alloy wheels in Maharashtra. The project outlay is Rs 500 crore ($68.87 million) with the production expected to start from November.
Over 336,000 shares changed hands vs 249,593 30-day average. The stock has forward PE of 25.89 vs sector average of 22.50. Minda Industries stock had fallen 17 per cent so far this year as of last close. ($1 = 72.6150 Indian rupees)
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