UNO Mind Rises On Acquisition Of Stake In JV Partnership With Kosei

Shares of UNO Minda Ltd. advanced 1.54% to Rs 468.85 apiece in trade on Tuesday. The headline index NSE Nifty 50 was trading higher by 0.27%.

The company will acquire an 81.69% stake in Kosei Minda Aluminum Company and a 49.9% stake in Kosei Minda Mould from joint venture partner Kosei, Japan, in share swap deals to consolidate its four-wheeler alloy business.

Scrip rose as much as 2.70% intraday, the most in over five weeks since Feb. 9, 2023. Total traded volume stood at 2.8 time its 30-day average. The relative strength index was at 35.

Out of the 18 analysts tracking the company, 15 maintain a ‘buy’ rating, one recommends a ‘hold’ and two suggest to ‘sell’ the stock.

The return potential as calculated by the consensus of analyst estimates, stand at an upside of 34.8% over the next 12 months.

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