Multibagger EV stock under Rs 60 in green as company sells 1013 units of electric two-wheelers in August 2024
The stock is up by 55.6 per cent from its 52-week low of Rs 35.70 per share and gave multibagger returns of 675 per cent in 5 years.
Wardwizard Innovations & Mobility Limited, a prominent manufacturer of electric vehicles under the 'Joy e-bike’ and ‘Joy e-rik’ brands, sold 1,013 units of electric two-wheelers in August 2024. Noteworthy, the company has already sold more than 6K (6,006) units of electric two-wheelers, including high and low-speed models in the first five months (April- August 2024) of this financial year.
Mr Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, “With the beginning of the festival season, we are already witnessing high footfall and enquiries for our diverse range of product portfolio. As the market sentiments look positive, we are expecting strong growth in the coming months, especially with Navratri, Diwali and Bhaidooj. In preparation for increased demand during these months, we are ensuring that all our deals across the region are well stocked with all the models.”
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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 1,400 crore. On Friday, shares of Wardwizard Innovations & Mobility Ltd gained 0.40 per cent to Rs 55.54 per share from its previous closing of Rs 55.32 with an intraday high of Rs 55.98 and an intraday low of Rs 55. The stock’s 52-week high of Rs 86.50 and its 52-week low is Rs 35.70. The stock is up by 55.6 per cent from its 52-week low of Rs 35.70 per share and gave multibagger returns of 675 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.
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