Shares of Minda Corporation are among the most buzzing stocks. Know why

Shares of Minda Corporation, a mid-sized auto components maker, were on top of the volume buzzers list after it reported a strong surge in profit thanks mainly to lower finance costs.

Minda Corp said its first quarter Net Profit rose 16.5 percent to 20.2 crore rupees compared with 17.4 crore rupees in the same quarter a year ago. Sales during April-June gained 15 percent to 528 crore rupees from 458.4 crore rupees in the year ago period. The company's operating margin rose to 5.8 percent versus 4.9 percent over the two comparable periods.

Minda Corp jumped 9.7 percent, or 7 rupees, to 79.4 rupees on the National Stock Exchange, where 5.4 lakh shares were traded by 10:00 am compared with the 5-day average of 56,800 shares.

Minda Corp's market capitalisation has leapt 134 percent in the past one year to 1,530 crore rupees as investors bought into India's growing auto boom that percolated to auto ancillary stocks.

Image credit: Indiatimes