Heavy buying witnessed: This smallcap stock surged more than 5 per cent to make a new 52-week high!

The stock has witnessed heavy buying as it has surged more than 76 per cent in just 6 months

On Friday, shares of Kabra Extrusion Technik Limited zoomed more than 5.5 per cent to make a new 52-week high of Rs 614.90. The scrip closed 5 per cent up at Rs 611.   

On January 31, 2023, the company announced that its division, Battrix has received ARAI certification under AIS 156 Amendment III Phase 2 for its batteries. These batteries boast the latest technology that will electrify the entire range of Hero Electric e-scooter. This supports battery safety advancements, reliability and performance and fully supports Hero's aggressive production line-up to meet the rising e2W demand.  

The technology allows battery packs to carry their operations smoothly and safely in diverse temperature ranges; there are negligible chances of a thermal runaway. Committed to developing and modernizing the Indian EV sector, both Battrixx and Hero Electric have come together to offer cutting-edge, innovative and safe mobility solutions to their consumers in the Indian market.  

Kabra Extrusion Technik is India’s largest manufacturer of plastic extrusion machinery for more than 4 decades and has recently ventured into manufacturing of Lithium-ion Battery Packs. The company is a part of the well-known Kolsite Group.  

The stock has witnessed heavy buying as it has surged more than 76 per cent in just 6 months and more than 15 per cent in 1 year. Keep a close eye on this trending stock.