Shares of auto parts maker Minda Corporation Ltd hit record high on Tuesday after the company said it had bagged a Rs 750 crore contract from a leading automobile manufacturer to produce battery chargers for its electric vehicles.

On 11 July, the company’s share rallied to 5.57% to Rs 307.75 against its previous close of Rs 291 on BSE. The stock has gained 47.18% this year and risen 39% in a year.

The stock fell to a 52-week low of Rs 187 apiece on March 28, 2023.

The company is yet to disclose the name of the automobile manufacturer it has signed the deal.

Minda Corporation Executive Director Aakash Minda said the order is “a testament to Spark Minda’s robust EV product portfolio and our focus on customer centricity”.

He added, “This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry.”

Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. Minda Corporation is one of India’s leading automotive component manufacturing companies, with a pan-India presence and a significant international footprint.