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Automotive component maker <keyword id="14811227" type="General" weightage="50" keywordseo="uno-minda-ltd" source="Orion">Uno Minda Ltd</keyword> on Thursday said its subsidiaries making alloy wheels and switches will expand their production capacity at an outlay of ₹300 crore. According to the company, its subsidiary <keyword id="14811226" type="General" weightage="50" keywordseo="minda-kosei-aluminum-wheel-private-ltd" source="Orion">Minda Kosei Aluminum Wheel Private Ltd</keyword> will be expanding its 4W Alloy wheel capacity by 60,000 wheels/month to 240,000 wheel/month at its plant in Bawal, Haryana. The additional capital expenditure for the aforesaid capacity expansion will be Rs 190 crore. The expansion is expected to be commissioned in two phase with first phase of 30,000 wheel/month in December 2023 and remaining in June 2024. Uno <keyword id="320265" type="General" weightage="100" keywordseo="minda" source="Orion">Minda</keyword> said its other subsidiary <keyword id="14810744" type="General" weightage="50" keywordseo="mindarika-private-limited" source="Orion">Mindarika Private Limited</keyword> (<keyword id="55574" type="General" weightage="50" keywordseo="mrpl" source="Orion">MRPL</keyword>), is setting up a new manufacturing plant at <keyword id="6506208" type="General" weightage="80" keywordseo="farrukhnagar" source="Orion">Farrukhnagar</keyword> (Gurugram, Haryana) to cater to increased demand of 4W Automotive switches from Indian and International customers. The project cost for setting up Phase 1 of the manufacturing plant at Farrukhnagar will be about Rs 110 crore which will be completed by September 2023. The phase 1 of the plant will manufacture part products to be used for manufacturing of auto components. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/seasonal-influenza-cases-rising-in-india-heres-what-we-know-so-far-about-the-flu/articleshow/93776910.cms" style="">Seasonal influenza cases rising in India — here’s what we know so far about the flu</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-group-gmr-group-acquire-franchises-in-legends-league-cricket/articleshow/93774659.cms">Adani Group, GMR Group acquire franchises in Legends League Cricket</a>

Uno Minda subsidiaries to expand at ₹300 cr outlay

New Delhi, Mar 31 () Auto component maker Minda Industries Ltd on Tuesday said it has decided to suspend manufacturing operations of its Spainish arm Clarton Horn, following lockdown announced by the country's government there to curb spread of coronavirus pandemic. The duration of this shutdown will depend on Spanish government policy, Minda Industries said in a regulatory filing. "This is being done to ensure safety and wellbeing of our employees. The company will work towards an orderly return to production once conditions permit," it added. Minda Industries is the flagship firm of UNO Minda group, a global player in automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, Morocco and Colombia as well as design offices in Taiwan, Japan and Spain. It has over 62 manufacturing plants globally. RKL MKJ

Coronavirus: Minda Industries suspends manufacturing in Spain

Mumbai, Apr 1 () Auto components maker Minda Industries on Wednesday said its board has approved Rs 33.5 crore investment in TG Minda and the proceeds will bed utilised to consolidate the business of the joint venture entity.TG Minda is a 49.9 per cent JV between the company's parent firm UNO Minda and Toyoda Gosei, Japan (TG)."Board of Minda Industries Ltd. has approved an investment of Rs 33.5 crore in TG Minda, a 49.9% joint venture of UNO Minda and Toyoda Gosei, Japan (TG). "The proceeds of the investment will be used to consolidate the business of TG in India by transferring the shares of Toyoda Gosei South India Ltd. (TG SIN) to TG Minda," a release said.TG SIN is a 95 per cent subsidiary of Toyoda Gosei (TG) and engaged in the business of interior and exterior plastic moulded components for automotive application.Consolidation of TG SIN will result in several synergies such as optimal production system, flexible supply chain, complementary product lines and customer synergies, the company said.The transaction is subjected to regulatory approvals, it added, adding the transaction is expected to be completed by September 2020."UNO Minda Group is focused on maximising its content/kit value across the vehicle segments and this is a step forward in this direction. We have strengthened our relationship with Toyoda Gosei further, with this investment," said N K Minda, Chairman &amp; Managing Director, Minda Industries Ltd.TG SIN reported a turnover of Rs 377 crore in FY2019, according to the company. IASSHW MRMR

Minda Industries to invest Rs 33.5 cr in JV firm

Japanese giant <keyword id="283690" type="COMPANY" weightage="20" keywordseo="Panasonic-Corporation">Panasonic Corporation</keyword>, and auto component manufacturing firm Minda Industries Ltd, have entered into a partnership to develop, manufacture and sell lead acid storage batteries in the country. 
	 
	The firms, through their joint venture company, want to harness the potential of the rapidly growing market of lead acid storage batteries for both two and four wheeler vehicles in India—this by leveraging Panasonic’s technology as well as the consumer base of the parent companies. 
	 “Panasonic started the production of lead acid storage batteries in 1937. Since then, we have consistently responded to requirements of various customers and achieved steady progress. We believe our technology over the years will contribute to development of the industry of lead acid storage batteries in India through the joint venture company with UNO MINDA”, said <keyword id="2249307" type="PERSON" weightage="20" keywordseo="Yoshio-Ito">Yoshio Ito</keyword>, senior managing director of Panasonic. 
	 Talking about the battery market in India, <keyword id="1054406" type="UNKNOWN" weightage="20" keywordseo="Nirmal-K-Minda">Nirmal K Minda</keyword>, CMD, <keyword id="1054403" type="UNKNOWN" weightage="20" keywordseo="Uno-Minda">UNO MINDA</keyword> stated, “The battery market in India is experiencing rising demand from various sectors, thereby providing immense opportunities for manufacturers to grow and operate in the market lucratively. Having strong footprint in India and with technical support of Panasonic, we believe UNO MINDA will be able to serve customers in multifarious ways.” 
	 
	The companies are planning to establish the new joint venture company on November 1, 2014 in Delhi. The company will have 3 members from Panasonic and two from Minda on board. The equity structure of the company has Panasonic as the major partner with 60% stake and the remaining 40% lies with Minda. The company aims to have a production capacity of two million units by 2018 with employee strength of 500 people. The firm will be headed by Japanese executive Takashi Komo. 
	 
	Currently, Panasonic has production bases in its home country Japan, Thailand and China. With the launch of the new company, the firm aims to expand overseas operations of its business.

Panasonic Expands In Overseas Markets, Ties Up With Minda To
Launch New Company

<ul><li>The stock listed at ₹304 as compared to its issue price of ₹282.</li><li>Its marketcap is at ₹6,010 crore, as per Bombay Stock Exchange.</li><li>The ₹834 crore IPO was a complete offer for sale and was subscribed 51X. </li></ul><keyword id="2901405" type="General" weightage="20" keywordseo="ask-automotive" source="Orion">ASK Automotive</keyword>’s stock debuted on the D-street at an 8% premium on Wednesday. The grey market was expecting 11% listing gains. The stock listed at ₹304 as compared to its issue price of ₹282. The stock gained during the session to close the day with 10% listing gains. The company's market cap stands at ₹6,010 crore, as per Bombay Stock Exchange. The ₹834 crore IPO was subscribed 51 times, with qualified institutional buyer (QIB) being subscribed by 142 times. The listing gains of the last few market debuts have been largely positive but there have been a few hits and misses too. Here are the listing gains of the last few market debuts. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ESAF Small Finance Bank </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">15% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Honasa Consumer </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> High-entry barrier business ASK Automotive’s price band has been set at ₹268-282 per share. It’s a book-built issue of ₹834 crore, and is completely an offer-for-sale with no net proceeds going back to the company. It has raised ₹250 crore from anchor investors like Goldman Sachs Fund, Morgan Stanley Asia (Singapore), Copthall Mauritius Investment, BNP Paribas Arbitrage, Societe Generale and SBI Life Insurance. The company’s promoters are Kuldip Singh Rathee and Vijay Rathee, and started operations in 1989. Its listed peers in the market are Uno Minda, Bharat Forge, Endurance Technologies and Suprajit Engineering. ASK Automotive is the largest manufacturer of brake-shoe and advanced braking systems for two-wheelers in India. It has a market share of approximately 50% in FY23 in terms of production volume for original equipment manufacturers and the branded independent aftermarket, on a combined basis. The company has in-house design and engineering capabilities that allows them to deliver complex precision components. Also, the business they’re in is a high-entry barrier business. “ASK Automotive is a well-established manufacturer of safety systems and critical engineering solutions with an extensive suite of systems and solutions for electric vehicle as well as internal combustion engine sectors and long-standing customer relationships with both Indian and global OEM players,” says a report by Anand Rathi, which gave it a ‘subscribe-long term’ rating as it believes the issue is fairly priced. SEE ALSO <a href="https://www.businessinsider.in/business/news/foreign-brands-bet-big-on-bharats-bulging-wallets/articleshow/105071211.cms">Foreign brands bet big on Bharat’s bulging wallets</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

ASK Automotive closes debut day with 10% listing gains

<ul><li><keyword id="3593951" type="General" weightage="20" keywordseo="healthassure" source="Orion">HealthAssure</keyword> raised ₹50 crore from <keyword id="5873101" type="General" weightage="20" keywordseo="rajiv-dadlani-group" source="Orion">Rajiv Dadlani group</keyword>, Blume Ventures, Leo Capital and more. </li><li>It aggregates <keyword id="6354525" type="General" weightage="20" keywordseo="healthcare" source="Orion">healthcare</keyword> services and also offers OPD insurance products. </li><li>It claims to have built a health maintenance organisation (HMO) ecosystem of primary care over the last 10 years across 1,200 cities. </li><li>The company claims that the total addressable market for this business is $3 billion. </li></ul>HealthAssure, which aggregates primary health care services and OPD insurance products, on Thursday raised ₹50 crore in a pre-series B funding round. The funding round was led by the <keyword id="1717786" type="General" weightage="20" keywordseo="rajiv-dadlani" source="Orion">Rajiv Dadlani</keyword> group and also saw participation from Blume Ventures, Leo Capital, a US-based impact fund, reputed family offices and high-networth individuals. The company plans to deploy these funds to enhance its products, strengthen distribution, sharpen its OPD insurance network and invest in technology. OPD, or outpatient, insurance refers to the insurance cover for healthcare treatments that do not involve hospitalisations. HealthAssure says it has built a health maintenance organisation (HMO) ecosystem of primary care over the last 10 years across 1,200 cities. It also claims to be the first to launch innovative insurance-underwritten OPD products. It ‘productises’ or creates innovative products for health seekers and distributes them through diversified channels. The company claims that the total addressable market of this business is $3 billion. The company has so far raised ₹220 million in funding and more recently also acquired fitness startup FitMeIn. “Raising our largest round yet in such difficult market conditions, displays the confidence which our existing and new investors have in our unique business model and the potential of the large healthcare market ripe for disruption,” said Varun Gera, founder and CEO of HealthAssure. The company, which launched operations in 2011, has serviced more than 3 million customers. It has several lines of businesses serving insurers like LIC, SBI Life, Niva Bupa, Care Insurance and ICICI Prudential for their primary care needs. It also provides employee health benefits to companies like GE, Deloitte, Deutsche Bank and Pearsons. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/uno-minda-subsidiaries-to-expand-at-300-cr-outlay/articleshow/93777358.cms">Uno Minda subsidiaries to expand at ₹300 cr outlay</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/seasonal-influenza-cases-rising-in-india-heres-what-we-know-so-far-about-the-flu/articleshow/93776910.cms">Seasonal influenza cases rising in India — here’s what we know so far about the flu</a>

Outpatient insurance aggregator HealthAssure raises ₹50 crore

<ul><li>In Q2 FY23, Tata Steel, HUL, Bharat Electronics, ITC, Zomato were among the highest-bought stocks in the <keyword id="725142" type="General" weightage="100" keywordseo="fpi" source="Orion">FPI</keyword> list.</li><li>Shares of index heavyweights like Reliance Industries, the top four IT giants and Kotak Mahindra Bank witnessed heavy selling by FPIs during the September quarter.</li><li>FPI flows more than halved in the September quarter, which saw an infusion of ₹48,570 crore compared to ₹1.07 lakh crore in the previous quarter of June.</li><li>Further, analysts believe buying will accelerate when the dollar index – currently at 106 – falls below 103, and there is a cool off in crude oil prices and treasury yields.</li></ul>Foreign capital flows into Indian equities remain volatile, even though India has outperformed most other peers for a large part of this year. Foreign investors are largely betting on defensive stocks and those that are attractively valued. Some of their favourite stocks in the September quarter were Zomato, Hindustan Unilever, ITC and Tata Steel. However, they continued to sell index heavyweights during the same period. Despite a revival in portfolio flows in July and August, foreign portfolio investor (FPI) inflows more than halved in the September quarter – investment dropped to ₹48,570 crore from ₹1.07 lakh crore in the previous quarter, shows data from Prime Database Group. This resulted in the share of FPI holdings in the market declining to a 10-year low of 19.03% as on September 30, 2022, down by 17 basis points from 19.20% as on June 30, 2022. “This further showcases the rise of domestic investors and the huge counter-balancing role they have played to foreign investors. To also put this in perspective, as on March 31, 2015, FPI share was 23.30% while the combined share of DII (domestic institutional investors), retail and HNI (high networth individuals) was just 18.47%,” said Pranav Haldea, MD at Prime Database Group. Keeping aside the first half of November when FPIs poured in ₹28,888 crore, they have been selling aggressively in the last couple of months because of macro concerns and weak inflation data in India. “<keyword id="6368141" type="General" weightage="20" keywordseo="fiis" source="Orion">FIIs</keyword> sold heavily in the September quarter because they were not expecting inflation to come down. Also the dollar index was rising. However, now, with positive data coming in, FIIs have bought a good amount of equities in November so far. In the near future, the street is expecting inflation in the US to come down,” Shrikant Chouhan, head of equity research (retail) at Kotak Securities told Business Insider India. Chouhan sees FIIs buying internet and software-based companies where earnings have come in strong. Also, “BFSI, capital goods and real estate are prime sectors where they are focusing and which will witness inflows in next six months,” said Chouhan. In Q2 FY23, Tata Steel, Bharat Electronics, ITC, Zomato were among the highest-bought stocks in the FPI list. Companies that saw the highest buying by FPIs in September quarter <div type="image" title="FPI buys 2" height="900" width="1200" msid="95580439" hostid="261"></div> Food delivery company Zomato, which debuted in the secondary market in July 2021, is also among FII favourites. FPIs bought shares of Zomato worth ₹8,057 crore during the quarter. Note that the company has erased 51% of its share value so far in 2022 due to constant losses. “They are also buying companies where valuation is comfortable and where downside is protected like Zomato,” said Chouhan. Further, analysts believe buying will accelerate when the dollar index – currently at 106 – falls below 103, and there is a cool off in crude oil prices and treasury yields. “Real buying will come when the dollar index is trading below 103, if Brent crude starts below $90 and 10-year treasury falls below 3.50%,” said Chouhan. Shares of index heavyweights like Reliance Industries, the top four IT giants and Kotak Mahindra Bank witnessed heavy selling by FPIs during the September quarter. Heavy sell off in these top IT companies have led to a correction of 10-40% in these stocks this year. Companies that saw the highest selling by FPIs in July-September <div type="image" title="fpi sale 2" height="900" width="1200" msid="95580521" hostid="261"></div> There were 11 companies in which promoters, FPIs and DIIs have increased their stakes during the quarter, these stocks were – Astral, Uno Minda, Atul, Maharashtra Seamless, Share India Securities, Mirza International, Sarda Energy &amp; Minerals, Meghmani Organics, Mrs.Bectors Food Specialities, NCL Industries and Poddar Housing &amp; Development. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/whenever-small-caps-trade-at-a-discount-to-nifty-they-have-given-outsized-returns-incred-wealth/articleshow/95536784.cms">Whenever small caps trade at a discount to Nifty, they have given outsized returns: InCred Wealth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/buy-on-dips-say-analysts-as-indian-markets-bounce-back-smartly-in-october/articleshow/95454116.cms">Buy on dips, say analysts, as Indian markets bounce back smartly in October</a>

You Searched For "Uno Minda" and got 7 results

Uno Minda subsidiaries to expand at ₹300 cr outlay

IANS

Coronavirus: Minda Industries suspends manufacturing in Spain

PTI

Minda Industries to invest Rs 33.5 cr in JV firm

PTI

Panasonic Expands In Overseas Markets, Ties Up With Minda To Launch New Company

Purba Das

ASK Automotive closes debut day with 10% listing gains

Katya Naidu

Outpatient insurance aggregator HealthAssure raises ₹50 crore

Katya Naidu

These stocks are hot favourites of FPIs even as they sell index heavyweights

Bhakti Makwana

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