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Uno Minda filed an application with the Competition Competition of India (CCI) to get clearance to acquire a 24.5% stake in Pricol, which is a leading manufacturer of instrument clusters in India, while Minda has a much smaller share of the market.

Analysts believe that raw material price correction helped margins. Gross margin expanded to 40.1 percent in the March quarter, increasing 658 basis points from the year-ago period and 556 bps from the December quarter

Analysts believe Minda is keen on expanding into the instrument-cluster market, which has a huge growth potential in the electrification of mobility. Pricol is the market leader in the product category, particularly in the two-wheeler segment.

Manufacturer of auto parts Minda Corporation will file an application before the Competitive Commission of India (CCI) to increase its stake in rival Pricol Ltd ......