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Minda Industries Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 26399.90 Crore) operating in Auto Ancillaries sector.

According to the data from BSE, the company fetched bids for 1,15,26,663 equity shares or 34 per cent as against 3,36,25,000 equity shares offered in the issue as of 11 am on day 1. The portion for retail bidders was subscribed 68 per cent, whereas non-institutional investors received six per cent bids.

“The prospects of energy cost coming down are now increasing. If that happens, then there would also be a crack in the commodity prices because before the oil price comes down, the metal and commodity prices will come down and as a result, in near term, for one or two quarters, some of the metal companies will be accepting the high price pressure on the selling price.”

The rising inflation has been a major problem for FMCG, consumer and QSR sectors, which have been hiking the prices to absorb the impact. But another price hike might be a major challenge for the companies.

A total of 368,405 shares changed hands on the counter till 12:42PM (IST).

A total of 351 shares changed hands on the counter till 11:11AM (IST).

The company, which follows a January-December financial year, had reported a consolidated net profit of Rs 10.09 crore in the year-ago period.

As of 31-Mar-2022, promoters held 66.33 per cent stake in the company, while FIIs held 16.62 per cent and domestic institutional investors had 2.0 per cent.

JMC Projects (India) Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 1408.72 Crore) operating in Construction sector.

The Relative Strength Index of the stock stood at 46.74 on Tuesday.