Minda Corporation jumps on entering into Technology License Agreement with LocoNav

Minda Corporation is currently trading at Rs. 208.10, up by 3.35 points or 1.64% from its previous closing of Rs. 204.75 on the BSE.

Minda Corporation
Minda Corporation

The scrip opened at Rs. 204.00 and has touched a high and low of Rs. 210.60 and Rs. 200.85 respectively. So far 15026 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 284.45 on 19-Apr-2022 and a 52 week low of Rs. 150.70 on 20-Dec-2021.

Last one week high and low of the scrip stood at Rs. 217.00 and Rs. 200.85 respectively. The current market cap of the company is Rs. 5001.54 crore.

The promoters holding in the company stood at 64.73%, while Institutions and Non-Institutions held 17.97% and 17.30% respectively.

Minda Corporation, the flagship company of Spark Minda group, has entered into Technology License Agreement (TLA) with LocoNav India for white-labelling of Telematics Software for both Web & Android/iOS platforms on November 21, 2022. Spark Minda will integrate LocoNav developed software with its inhouse developed telematic devices to provide OEMs with a complete solution.

This exclusive collaboration will enable Spark Minda to be ahead of technology curve with customised solutions to suit Indian OEM’s.

As part of the alliance, LocoNav will be the technology partner for telematic systems to Spark Minda and shall provide with white labelled software.

LocoNav would also assist Spark Minda in software customizations and other support from time to time and provide mobile application user interface.

Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEM’s across the Globe.

Leave a Comment