Multibagger EV Stock Under Rs 50 in Focus as Company Partners with Ampvolts Ltd to Develop Advanced EV Charging Infrastructure in India and Abroad

The stock is up by 12 per cent from its 52-week low of Rs 39.90 per share and gave multibagger returns of 500 per cent in 5 years.

Wardwizard Innovations & Mobility Limited, one of India’s leading electric vehicle manufacturers operating under the brands Joy e-bike and Joy e-rik, has signed a Memorandum of Understanding (MoU) with Ampvolts Limited; formerly Quest Softech (India) Limited, a prominent EV charging stations and infrastructure provider. This strategic collaboration aims to advance green mobility solutions by leveraging the synergies of both organizations to develop robust EV charging infrastructure in India and globally.

As part of the agreement, Wardwizard Innovations & Mobility Limited will play a pivotal role in identifying strategic locations for setting up EV charging stations and serving as the frontend partner for key projects. The company will also ensure the provision of necessary resources, including financial support, to bolster the development of a comprehensive EV ecosystem.

Ampvolts Limited will complement this partnership by supplying state-of-the-art electric vehicle charging equipment, including chargers and associated hardware, to Wardwizard Innovations & Mobility Limited. They will also provide customized CMS software solutions to facilitate payment gateways and online monitoring systems. The company will also extend its Battery as a Service (BaaS) offerings to Wardwizard’s B2B clients, delivering innovative and comprehensive solutions to enhance business operations. This strategic partnership highlights a shared commitment to building a sustainable future, fostering innovation, and meeting the growing demand for eco-friendly mobility solutions.

About Wardwizard Innovations & Mobility Limited

Wardwizard Innovations & Mobility Limited is one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike and Joy e-rik. 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 have a positive impact in the future. Given the current state of the environment, where fuel-powered vehicles account for the vast bulk of carbon emissions, the company is promoting improvement by offering cleaner, greener options that produce no emissions. With more than 10 models in its portfolio in both high and low-speed categories, the Company has established a strong presence in more than 400+ cities across India and aspires to boost this number throughout the country.

The company falls under the BSE Small-Cap Index with a market cap of over Rs 1,100 crore. The stock’s 52-week high of Rs 86.50 and its 52-week low is Rs 39.90. The stock is up by 12 per cent from its 52-week low of Rs 39.90 per share and gave multibagger returns of 500 per cent in 5 years. Investors should keep an eye on this small-cap EV stock.

Disclaimer: The article is for informational purposes only and not investment advice.