Minda Industries appoints Satish Borwankar as Non-Executive Director; stock climbs ~3%

11 Apr 2022 , 01:56 PM

Minda Industries has appointed Mr. Satish Balkrishna Borwankar as an Additional Director in the Category of Non-Executive Independent Director on the Board of the Company for a term of three years effective from April 12, 2022.

Mr. Satish Balkrishna Borwankar has done B. Tech (Hons) Mechanical Engineering in 1974 from IIT Kanpur. After passing out, he started his carrier with Tata Motors as a Graduate Engineer Trainee in 1974. He acquired wide experience working in the automobile industry, particularly in the manufacturing and quality functions of commercial vehicles and passenger vehicles of Tata Motors.

He superannuated as Executive Director and Chief Operating Officer after serving the organization for 45 years.

Mr. Borwankar worked in various executive positions for overseeing and implementing product development, manufacturing operations, and quality assurance of the commercial and passenger vehicle business of Tata Motors. He played a significant role in setting up some of the green field projects in Tata Motors.

Minda Corporation is currently trading at Rs234.55 up by Rs7.7 or 3.39% from its previous closing of Rs226.85 on the BSE. It touched intraday high and low of Rs237.40 and Rs229.40 respectively.