Stock below 100: This company broke the monthly sales record showcasing a growth of 116 per cent; do you own it?

The company in its latest press release stated that it broke the monthly sales record with a growth of 116 per cent in November 2022

On Thursday, shares of Wardwizard Innovations & Mobility zoomed over 4 per cent to make an intraday high of Rs 70.70. The scrip closed 3.27 per cent higher at Rs 69.55.  

The company in its latest press release stated that it broke the monthly sales record with a growth of 116 per cent in November 2022 and crossed the 7000 sales mark for the first time. Backed by its robust portfolio including high-speed and low-speed models, the company clocked a growth of 116 per cent as compared to the last month’s sales.    

In Q2FY23, the company reported revenue of Rs 63.9 crore, up by 91 per cent from the corresponding quarter last year. Subsequently, the company’s net profit grew by 55 per cent on a YoY basis to reach 2.5 crore. The company has already managed to sell more than 25000 units of electric two-wheelers in the current fiscal year, achieving a growth of 85 per cent, as compared to the same period last year.  

Wardwizard Innovations & Mobility Ltd is a leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name "Joy E-Bike". Being the first listed entity on BSE in Electric vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to provide clean and greener alternatives to the existing usage of mobility, aligned with its philosophy of driving a positive change. It has footprints in more than 25 major cities across India and aspires to boost this number throughout the country.  

The stock has rallied 18.79 per cent in the past 5 trading sessions and is showcasing good traction. Keep a close eye on this trending electric two-wheeler stock.