Shares of Minda Corporation rose over 2 percent on September 4 after the company announced a technology licensing agreement with China’s Sanco Connecting Technology, a leader in Electric Vehicle (EV) connection systems. This agreement aims to enhance Minda Corporation’s product portfolio in the growing EV industry, specifically in Electrical Distribution Systems (EDS).
The agreement enables the partial design and development of locally made EV connecting systems by Minda Corporation and Sanco in India, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units-PDU, and Battery Distribution Units-BDU. Minda Corporation said this is an important step toward strengthening its vertical integration capabilities in the Wiring Harness Division and reinforcing its position in the EV supply chain ecosystem.
On the National Stock Exchange, shares of Minda Corporation were trading 2 per cent higher at Rs 585.35 at 11:32 am. Year-to-date, the stock has gained around 52 per cent against the Nifty return of 15 per cent. In the last 12 months, Minda Corp has jumped 66 percent, as against a 28 percent rally in Nifty.
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Source: Moneycontrol
News Desk
