TechnoclinicTechnoclinic
  • Home
  • APPS
  • CAMERAS
    • PRINTERS
  • GAMING
    • LAPTOPS
  • HDTV
  • NEWS
  • PHONES
    • TABLETS
  • REVIEWS
  • SOFTWARE
  • Contact Us!
Search
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Minda Zooms Over 18% as Company Buys Lighting Business of Spain’s Rinder
Share
Sign In
Aa
TechnoclinicTechnoclinic
Aa
Search
  • Home
  • APPS
  • CAMERAS
    • PRINTERS
  • GAMING
    • LAPTOPS
  • HDTV
  • NEWS
  • PHONES
    • TABLETS
  • REVIEWS
  • SOFTWARE
  • Contact Us!
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Technoclinic > NEWS > Minda Zooms Over 18% as Company Buys Lighting Business of Spain’s Rinder
NEWS

Minda Zooms Over 18% as Company Buys Lighting Business of Spain’s Rinder

srijita
Last updated: 2016/03/06 at 2:51 PM
srijita
Share
SHARE
Minda Zooms Over 18% as Company Buys Lighting Business of Spain's Rinder
Mumbai: Shares of auto components maker Minda Industries soared by over 18 per cent today as the company acquired Spain-based Rinder Group’s global automotive lighting business for 20 million euros (over Rs. 145 crore).

The stock zoomed 18.44 per cent to Rs. 998.75 on BSE.

At NSE, shares of the company spurted by 17.71 per cent to Rs. 992.

The acquisition includes 100 per cent equity holding in Rinder India, Spain-based Light Systems and Technical Center, along with 50 per cent stake in Rinder Riducu, Colombia.

“This acquisition will give us immense advantage technology wise in lighting solutions and will further augment the R&D capabilities of the company. With this acquisition the company’s lighting business will have turnover in excess of Rs. 700 crore,” Uno Minda Group Chairman N K Minda told PTI.

The turnover from the lighting business is currently around Rs. 300 crore, he added.

“Our vision is to achieve 25 per cent of group turnover from international business. The overseas leg of this global acquisition will ensure that the company moves closer to its vision and expand its geographical footprints further,” Minda said.

The deal will be financed through a mix of internal accruals and debt.

[“source-ndtv”]
TAGGED: 18%, as, Business, Buys, Company, Lighting, Minda, of, Over, Rinder, Spain's, Zooms

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
srijita March 6, 2016
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article NSE to Auction Investments Worth Rs 4,681-Crore in Government Debt
Next Article Over a Dozen Companies Announce Dividend Post Budget; More to Follow

Latest News

How to Prepare for the Mandatory Windows 11 Upgrade
LAPTOPS
How to Clean Your Flat-Screen TV The Right Way
HDTV
AI and Content Management: How Organizations Can Prepare for the Future
SOFTWARE
What is Application Software: Function and Features of Application
APPS
Case Study: Nissan and Teads’ Immersive Concept Car Campaign Transformed Scrolls into Stories
NEWS
Review of Hootsuite: Advantages, Drawbacks, Features, and Other Options
REVIEWS

Most Viewed Posts

  • Bengaluru Lady Turns Blinkit Conveyance Specialist For A Day And Her Choice Prompted Significant Changes In Application (1,240)
  • Choosing the Right Tablet for Blogging and Writing On the Go (1,159)
  • How to Start a Product Review Blog (Templates & Examples) (1,106)
  • How To Start A Review Blog and Get Free Review Products (1,096)
  • What You Need to Know About Smartphones vs. Tablet use of the Mobile Internet (1,075)

© 2023 TechnoClinic Network. TechnoClinic Company. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?