The funds raised through this investment will be used to support EESL’s greenfield project in Bengaluru, where the subsidiary is setting up a manufacturing plant for lithium-ion battery cells, modules, and packs

In the quarterly results (Q1) ended June 30, 2023, the net sales increased by 6 per cent to Rs 4,245 crore, the operating profit increased by 13 per cent to Rs 438 crore and the net profit increased by 11 per cent to Rs 224 crore in Q1FY24 over Q1FY23.

Strong auto sales to boost OEM and aftermarket businesses.

On Thursday, the domestic benchmark indices ended higher for a third straight day as the Bharatiya Janata Party (BJP) was on the verge to win four of the five key state elections. A rally was seen across the markets with FMCG, public sector banks, and realty sectors shining on the front. 

The company has participated in the production-linked incentives (PLI) scheme for National Programme on Advanced Chemistry Cell (ACC) Battery Storage, issued by the Ministry of Heavy Industries.