14 Feb, EOD - Indian

SENSEX 75939.21 (-0.26)

Nifty 50 22929.25 (-0.44)

Nifty Bank 49099.45 (-0.53)

Nifty IT 41311.15 (-0.01)

Nifty Midcap 100 49654.15 (-2.41)

Nifty Next 50 59557.95 (-2.28)

Nifty Pharma 20811.55 (-2.87)

Nifty Smallcap 100 15407.2 (-3.55)

14 Feb, EOD - Global

NIKKEI 225 39149.43 (-0.79)

HANG SENG 22620.33 (3.69)

S&P 6146 (-0.02)


Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(15 Jun 2024, 11:23)

Minda Corpo inks JV agreement with HCMF for automotive sunroof solutions and closure systems

Minda Corporation said that it has entered into and signed a Joint Venture Agreement with HSIN Chong Machinery Works Company for manufacturing of automotive sunroof solutions and closure technology products for passenger cars in India.


“This joint venture shall be operational through incorporation of a new joint venture entity,” Minda Corp added.

The initial ratio of shareholding in the proposed JV company (JVC) shall be held 50% by Minda Corporation and 50% shall be held by HSIN Chong Machinery Works Company (HCMF).

Taiwan-based HSIN Chong Machinery Works Company is a leading global manufacturer of automotive sunroof and closure systems. The company is engaged in the manufacturing of various products groups like roof system, comfort closure system, door and closure mechanical system, seat system and mechanical & mechatronic system. The company operates via its 29 sales, technical and manufacturing facilities spread globally.

With evolving consumer preferences and premiumisation, the market for sunroof in India is expected to grow significantly. This this collaboration will offer advanced products and technologies in the vehicle access space, particularly for passenger cars increasing the content per vehicle.

Ashok Minda, chairman & group CEO – Minda Corporation said: “We are delighted to announce the signing of a joint venture agreement with HCMF, a partnership that will pave the way for smart mobility solutions.

This collaboration underscores our commitment to Atamnirbhar Bharat, as we strive to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles.

Furthermore, Spark Minda is committed to expanding our four-wheeler segment offerings by enhancing kit value, ensuring greater benefits for our customers. Our continuous endeavor is to introduce advanced technology products that will drive the next phase of our growth.”

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

The scrip had advanced 1.25% to end at Rs 455.90 on the BSE on Friday.


More News
More Company News View Company Information

Capital Market Publishers India Pvt. Ltd

401, Swastik Chambers, Sion Trombay Road, Chembur, Mumbai - 400 071, India.

Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date.

Over the years the scope of the databases has enlarged to cover economy, sectors, mutual funds, commodities and news. Many innovative online and offline applications of these databases have been developed to meet various common as well as customized requirements.

While all the leading institutional investors use Capitaline databases, Capital Market magazine gives access to the databases to individual investors through Corporate Scoreboard. Besides stock market and company-related articles, the magazine’s independent and insightful coverage includes mutual funds, taxation, commodities and personal finance.

The power of the database is harnessed by our fired-up reporters to generate interesting ideas. The reader-friendly presentation of the idea, supplemented by relevant data and information, can be accessed online through Capita Telefolio and Telefolio Gold. These ideas are used by individual investors as well as institutional investors to do further research and stay ahead.

Copyright @ Capital Market Publishers India Pvt.Ltd

Designed, Developed and maintained by CMOTS Infotech (ISO 9001:2015 Certified)

Site best viewed in Internet Explorer Edge ,   Google Chrome 115.0.5790.111 + ,   Mozilla Firefox 115.0.3 + ,   Opera 30.0+, Safari 16.4.1 +