This multibagger stock secures Rs 750 crore contract for EV battery chargers!

The company has delivered returns of 39 per cent over the past year and returns of 335 per cent over the past 3 years.

Minda Corporation is a prominent automotive component manufacturer in India, with a strong domestic and international presence. Established in 1985, it is the flagship company of Spark Minda and offers a diversified product portfolio for various vehicles. Their range includes Mechatronics, Information and Connected Systems, Plastic and Interiors, Electronic Manufacturing Excellence and Spark Minda Green Mobility. With a dedicated R&D facility and collaborations with industry leaders, Minda Corporation delivers cutting-edge products and maintains high-quality standards.

Minda Corporation, the flagship company of Spark Minda, has secured a significant contract from a leading OEM to manufacture Battery Chargers for Electric Vehicles (EVs). The order is valued at Rs 750 crores and highlights the company's commitment to sustainable mobility and expanding its EV product range.

The awarded product will be produced at Spark Minda's state-of-the-art facility in Pune. With electric vehicles comprising nearly 20 per cent of their total orders in the previous financial year, this project further strengthens Spark Minda's position as a forward-looking organization dedicated to revolutionizing the automotive sector through innovation and technological excellence.

The company has delivered returns of 39 per cent over the past year and returns of 335 per cent over the past 3 years. Additionally, the company has a ROCE of 16.5 per cent and a ROE of 19.5 per cent.

On Tuesday, shares of this company surged by more than 4 per cent and traded on its new 52-week high of Rs 307.75.

Investors should keep a close eye on this buzzing stock.