Debt-free multibagger penny stock at Rs 53.19 with 791 per cent returns, hit back-to-back upper circuits & 52-week highs; Do you own it?
The stock also made a new 52-week high of Rs 53.19 per share and gave multibagger returns of 791 per cent from its 52-week low of Rs 5.97 per share.
On Friday, shares of EPIC Energy Ltd were locked in a 2 per cent upper circuit to Rs 53.19 per share from its previous closing of Rs 52.15. The stock also made a new 52-week high of Rs 53.19 per share and gave multibagger returns of 791 per cent from its 52-week low of Rs 5.97 per share.
EPIC Energy Partners with Fenfeo Automotive to Drive India's EV Charging Infrastructure
Epic Energy Limited has announced a strategic partnership with Fenfeo Automotive Private Limited to establish a state-of-the-art manufacturing facility for electric vehicle chargers in Coimbatore, India. This joint venture aligns with the rapidly expanding EV market in the country and the growing demand for fast-charging infrastructure.
The new manufacturing unit will have an initial production capacity of 15,000 chargers per year, with plans to scale up operations and expand to other locations across India to meet the increasing demand. This move is supported by the findings of Bain's "India Electric Vehicle Report 2023," which predicts a significant shift towards fast-changing technology due to the growing need for rapid-charging solutions, especially in sectors like transportation and logistics.
The Indian EV charging market is projected to reach a value of USD 20 billion by 2030, driven by government incentives, tax benefits, and public-private partnerships. With a CAGR of over 50%, fast-charging infrastructure is expected to play a crucial role in accelerating India's transition to electric vehicles.
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Earlier, the company partnered with Niva Ecotech Pvt Ltd to develop a 35 MWp solar park near Solapur, Maharashtra. Epic's subsidiary, Epic Renewable Projects Private Limited, is spearheading the project and aims to expand its capacity to 140 MWp within two years. Niva, with its experience in Solapur solar projects, brings valuable expertise to the partnership. Together, they aim to contribute significantly to India's renewable energy goals. Epic is actively seeking corporate partners to set up solar plants within the park under the Group Captive Open Access system, offering companies a way to reduce their carbon footprint and energy costs. This collaboration aligns with Epic's commitment to assisting companies in achieving their ESG goals.
About Epic Energy Ltd: Epic is an Energy Service Company recognized as an ESCO by the Bureau of Energy Efficiency, Government of India. Epic has been in the field of energy conservation and green energy for the last two decades. The company has a market cap of Rs 38.36 crore and as of June 2024, the company is debt-free. Investors should keep an eye on this solar penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.