Price Volume Breakout: Salzer Electronics soars by more than 10 per cent on Monday

The markets after opening in green slipped temporarily to again trade with gains of more than 300 points on an intraday basis. 

Several stocks are seen trading with a price volume breakout on Monday. Salzer Electronics is one such stocks that is trading higher by more than 10 per cent with a spurt in volumes. 

Recently Salzer Electronics has declared positive set of results on November 1. The share price of Salzer Electronics is up by more than 27 per cent since it declared the Q2FY22 results. 

Salzer Electronics declared that it will forays into EV Business through joint venture to manufacture technologically innovative and futuristic products in line with its strategy of product diversification. The JV is named ‘’Salzer Kostad EV Chargers Pvt Ltd”. The joint venture is with Austrian company to manufacture DC FAST Chargers for E Vehicles. JV partner – Kostad Steuerungbau GmbH is a specialist in EV chargers & e-charging stations. 

Salzer will own 26 per cent equity in the Euro 2 million (Rs 18 cr) JV company. The key markets for the new products will be India, Southeast Asia and Middle East. 

The shares of Salzer electronics are up by 17.27 per cent in one month alone while in 2021 the stock is up by 53 per cent. In one year, the stock has gained by 96 per cent.