This high momentum, high PE supplier of automotive solutions is trending upwards!

As per the technical indicators such as MACD & RSI, Minda Industries is looking strong, and it is further expected to move up in the short term.

Minda Industries gave a breakout during Monday’s trading session after crossing Rs 578 levels with heavy volumes.  

The stock made a fresh 52-week high of Rs 625 for itself on Monday and managed to close at Rs 605 per share. On BSE, there was a spurt in volume by more than 2.72 times in the counter.  

As per the technical indicators such as MACD & RSI, the stock is looking strong, and it is further expected to move up in the short term. However, with a PE of almost 211, Minda is one of the most expensive stocks in the auto parts & equipment industry.  

Minda Industries is a supplier of automotive solutions to original equipment manufacturers and offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, etc.  

The stock is up by nearly 53 per cent on a YTD basis. In one year, the stock has gained more than 108 per cent; thus, outperforming the frontline indices by a good margin.