Uno Minda

Implementation of airbags in other vehicle segments over the medium term will offer further revenue upside for airbag manufacturers, as per rating agency ICRA

Revenue from operations during October-December 2021 rose seven per cent to Rs 2,181 crore, compared with Rs 2,031 crore in the year-ago period

Auto component maker Minda Industries on Friday said it has raised Rs 50 crore through issuance of commercial papers. "Minda Industries has issued the commercial paper of Rs 50 crore with allotment date June 17, 2021, and due for maturity on August 11, 2021," the company said in a regulatory filing. Minda Industries said this is in line with the management's efforts to bring down the finance cost. Last month, Minda Industries said its board has approved the acquisition of a 27.55 per cent stake in CSE Dakshina Solar for Rs 27 lakh. The acquisition is for availing solar power from CSE Dakshina for the company's units in Tamil Nadu. CSE Dakshina, a special purpose vehicle, is engaged in the business of providing solar power solutions for the captive consumption of commercial and industrial customers in India. It was incorporated in 2019. The company is in the process of setting up the project.

Minda Industries said it will invest over Rs 250 crore in expanding its four-wheel lighting and alloy wheel business to meet the increased demand as its existing units are operating at near capacity

Acquisition includes 100 per cent equity holding in Rinder India, Spain-based Light Systems and Technical Center