Minda Corporation: Q2 FY26 revenue hits ₹1,535 cr

Stock in focus after multiple broker notes

Minda Corporation Ltd (INE842C01021) stayed on traders’ radar as fresh brokerage commentary and technical levels circulated alongside recent financial highlights. Choice Institutional Equities published a bullish note with a target of ₹650 on April 22, 2026. Separately, a technical note from Choice Equity Broking highlighted a possible breakout zone near ₹610, with defined stop-loss and targets. The stock’s trading snapshot also showed it sitting about 12.35% below its 52-week high, indicating it has not reclaimed prior peaks even as buy calls resurfaced.

The company is part of the auto components space and is described as a leading automotive component manufacturing company in India with a pan-India presence and international footprint. Market data in the provided feed showed active trading status and tight intraday ranges at the time of capture. Alongside broker targets, platform “stock score” metrics and shareholding data were also cited, giving investors more context on valuation, ownership, and near-term liquidity.

What the latest trading snapshot showed (22 Apr 2026)

BSE market depth data timestamped April 22, 2026 (09:09) showed a bid price of ₹535.00 and an ask price of ₹544.45. The displayed day range in the feed was ₹544.00 to ₹544.00, indicating little variation in that specific snapshot. Reported volume was 761 shares, with value shown at ₹4.14 lakh and VWAP at ₹544.00 in the same table.

The market depth ladder showed aggregate buy quantity of 275 against total sell quantity of 5,885 in the visible orders. Such order-book imbalance can reflect short-term liquidity and supply at quoted levels, though it is not a definitive indicator of direction by itself. Impact cost was listed at 0.07, and the applicable margin rate was 17.77. Deliverable quantity was cited as 50.85% of traded quantity in the trade information section.

52-week levels and volatility indicators

The stock’s 52-week high was listed at ₹619.95 (dated November 13, 2025) and the 52-week low at ₹445.05 (dated August 11, 2025). Upper and lower bands were shown as ₹653.30 and ₹435.60 respectively, with a 20% price band. Daily volatility was reported at 2.22 and annualised volatility at 42.41 in the provided exchange-style snapshot.

Another platform line noted the price was 12.35% away from the 52-week high. Taken together, these figures place the stock in the upper half of its 52-week range but still below the prior high. This matters because several broker targets discussed in the feed sit near or above the earlier peak, implying that any move toward those targets would require a retest of the high zone first.

Key broker calls: Choice, Nuvama, and revised targets

Choice Institutional Equities issued a call to “Buy Minda Corporation” with a target of ₹650 (April 22, 2026, 08:54 AM). A separate research highlight in the feed referenced analyst Deven Choksey revising his stance to “ACCUMULATE” from “BUY” and setting a target price of ₹649 based on September 2027 estimates. Another note stated Nuvama Institutional Equities reiterated “Buy” while trimming its target to ₹630 from ₹650, citing marginal adjustments to future earnings projections.

These targets cluster in the ₹630 to ₹650 range, making that zone a common reference point across the cited brokerage commentary. At the same time, the presence of multiple targets does not eliminate risk, particularly when other platform insights flag “high valuations” and only “average growth trend” even while noting “superior financial strength.”

Technical levels highlighted by Choice Equity Broking

A technical note attributed to Aakash Shah of Choice Equity Broking suggested buying MINDA CORP in cash above ₹610, with a stop loss at ₹580 and a share price target of ₹660. The same note described the stock as being in a range-bound consolidation after a prior uptrend, with repeated rejection near ₹610. It also mentioned the price trading above the 50-EMA and 100-EMA, and the 200-EMA acting as dynamic support, implying the broader trend was intact in that framing.

Importantly, the note placed a downside demand area at ₹585 to ₹580. For traders, these levels often serve as reference points for risk management, especially when targets are meaningfully higher than nearby support zones.

Financial performance highlights: Q2 FY26 and H1 FY26

One report in the feed stated Minda Corporation delivered a “record-breaking” Q2 FY26, with consolidated revenue of INR 15,354 million, up 19.0% year-on-year. Normalised to a single base unit, this equals ₹1,535.4 crore. The same note said EBITDA margin improved, though it did not provide the margin figure.

For H1 FY26, consolidated revenue was reported at INR 29,210 million, or ₹2,921.0 crore, up 17.7% year-on-year. The feed also cited profit after tax (PAT) of INR 846 million, or ₹84.6 crore, with a margin of 5.5%. These numbers provide the fundamental backdrop referenced by broker notes that extended valuation horizons to September 2027 estimates.

Ownership and platform scores referenced in the feed

Shareholding data in the provided text stated promoter holding remained unchanged at 64.84% in the March 2026 quarter. Another platform bullet listed a weakness that FII/FPI decreased their shareholding in the last quarter, without specifying the magnitude.

The feed also carried a “stock score” of 61/100 and a line describing “Superior Financial Strength, Average Growth Trend, Stock Priced at High Valuations.” While such scores are proprietary to platforms, they reflect the mixed framing visible in the overall dataset: fundamentals cited as strong, but valuation flagged as demanding.

Key data snapshot

Analyst targets and stated levels

Market impact: what investors are watching

The combination of broker targets near ₹630 to ₹650 and a technical trigger near ₹610 puts specific price zones in focus. The stock’s 52-week high at ₹619.95 is also close to these discussion points, making it a natural reference level for both short-term traders and longer-term investors. On the liquidity side, the order book snapshot showed a notable difference between visible sell quantity and buy quantity, which can matter for near-term execution around quoted prices.

At the same time, platform indicators in the feed flag valuation as high, even while financial strength is described as superior. That mix typically leads investors to track whether earnings delivery continues to support multiples, particularly after a strong Q2 and H1 growth print.

Conclusion

Minda Corporation’s latest attention cycle blends three elements present in the feed: strong reported Q2 FY26 and H1 FY26 revenue growth, clustered broker targets around ₹630 to ₹650, and clearly stated technical levels around ₹610 on the upside and ₹585 to ₹580 on the downside. The next reference points for market participants, based on the cited notes, are whether the stock sustains moves toward the ₹610 resistance area and how subsequent broker updates reflect evolving earnings assumptions.