OLA’s Peer Multibagger EV Stock Under Rs 50 In Green As Company Sells 1,195 Units Of Electric Two-Wheelers In September 2024
The stock is up by 36.55 per cent from its 52-week low of Rs 36.61 per share and gave multibagger returns of 600 per cent in 5 years.
OLA’s Peer multibagger EV Stock - Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands 'Joy e-bike’ and ‘Joy e-rik’, sold 1,195 units of electric two-wheelers in September 2024. Noteworthy, in the first two quarters of FY 2024-25, the company has already sold 7,201 units of electric two-wheelers, including both high-speed and low-speed models.
In September 2024, Wardwizard Innovations received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a Joint Venture in the Kingdom of Saudi Arabia (KSA). This pivotal collaboration will involve setting up two manufacturing plants to assemble electric motorbikes, three-wheelers, four-wheelers, buses, and EV cells. This strategic move underscores Wardwizard's commitment to providing sustainable mobility solutions and marks a significant milestone in its global expansion plans.
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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 1,280 crore. On Thursday, shares of Wardwizard Innovations & Mobility Ltd gained 2.95 per cent to Rs 49.99 per share from its previous closing of Rs 48.56 with a spurt in volume by more than 1.01 times on BSE. The stock’s 52-week high of Rs 86.50 and its 52-week low is Rs 36.61. The stock is up by 36.55 per cent from its 52-week low of Rs 36.61 per share and gave multibagger returns of 600 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.