15 Apr , 2026 By : Debdeep Gupta
Shares of Minda Corporation added nearly 2% in the early trade on April 15 after the company announced a joint venture with a UK-based firm to strengthen its presence in the electric vehicle (EV) segment.
At 09:39am, Minda Corporation was quoting at Rs 517.70, up Rs 8.50, or 1.67 percent, on the BSE.
The company’s wholly owned subsidiary, Spark Minda Green Mobility Systems (SMGM), has entered into a joint venture agreement with Turntide Drives, subject to regulatory approvals. The partnership will operate through a newly incorporated joint venture entity in India.
The JV will focus on the development and manufacturing of next-generation EV components, including high- and low-voltage motor controllers, high-performance electric motors, thermal management pumps, and other customised controllers, primarily catering to India’s fast-growing EV market.
Under the agreement, Minda Corporation, through its wholly owned SPV, will hold a 49% stake, while Turntide will own the remaining 51%.
“This partnership with Turntide marks a significant milestone in our journey towards electrification," said Ashok Minda, Chairman and Group CEO of Minda Corporation.
He added that by combining Turntide’s globally proven technology with Minda Corporation Limited’s strong local presence, we aim to deliver advanced, high-quality, and cost-competitive EV powertrain solutions that support India’s transition to ustainable mobility. This will result to meet ‘Make in India’ objectives and enhance the resilience of domestic supply chain of EV ecosystem.
In the previous session, the stock closed at ?509.20, down ?4.35 or 0.85%. It has touched a 52-week high of ?644.35 on September 29, 2025, and a 52-week low of ?445.25 on August 11, 2025.
The stock is currently trading 20.97?low its 52-week high and 14.36?ove its 52-week low, with a market capitalisation of ?12,173.92 crore.
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