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Minda Industries soars 8% on JV with Germanybased FRIWO for EV components The company has entered into JV with FRIWO AG Germany to manufacture and supply various EV components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years.
Shares of Minda Industries rallied 8 per cent to Rs 1,019, hitting a new 52-week high on the BSE in Monday's intra-day trade, after the auto anciallary company announced a fresh round of capex and investment spends. The auto components maker announced last Friday that it has entered into a joint venture (JV) agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. At 09:25 am, the stock was up 6 per cent at 1,005, as compared to a 0.53-per cent rise in the S&P BSE Sensex. A combined around 650,000 shares had changed hands on the NSE and