Jindal Worldwide to open a new electric vehicle manufacturing plant in Ahmedabad

Jindal Worldwide to open a new electric vehicle manufacturing plant in Ahmedabad

by 5paisa Research Team Last Updated: Jan 10, 2023 - 07:22 pm 4k Views

Shares of Jindal Worldwide jumped about 100% in the last 6 months. 

On January 10, 2023, the company informed in the exchange filing that Jindal Worldwide’s subsidiary - Jindal Mobilitric (JM) is setting up a state-of-the-art electric 2-wheeler manufacturing plant with a production capacity of 2.5 lakh vehicles annually at Ahmedabad. In addition, JM is also setting up an in-house fully Automated Battery Manufacturing Plant with a similar production capacity. The objective of setting up an in-house battery plant is to ensure the highest level of battery safety which will bring consumer trust in EV Products resulting in faster adoption of EVs in India.

With a global vision, the group wants to spread its EV wings by aiming for a presence all across the world. Along similar lines, JM forays into Nepal Market by finalizing its first overseas exclusive experience centre in Kathmandu. In addition, JM is glad to announce entry in 40 cities of 10 states of India with an Exclusive Dealership network now. JM is planning to Launch an Electric 2-Wheeler range of products in April 2023, targeting Premium, Executive and Mass Segment consumers and the first E-2W Teaser is out on JM's social media Platform.

Today, the stock opened at Rs 468.30 with a high and low of Rs 468.30 and Rs 454.55. The stock closed trading today at Rs 459.75, down by 0.15%.

In the last six months, the shares of the company have given about 100% returns and on a YTD basis, the stock has given 6.60 returns.

The stock has a 52-week high of Rs 477.00 and a 52-week low of Rs 198.40. The company has a ROCE of 19.2% and an ROE of 22.8%, with a market capitalisation of Rs 9,209 crore.

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Sahana Systems IPO GMP (Grey Market Premium)

Sahana Systems IPO worth ₹32.74 crore comprises entirely of a fresh issue of shares by the company. The price band has been fixed in the range of ₹132 to ₹135.

  • Jun 07, 2023
Spectrum Talent Management IPO GMP (Grey Market Premium)

The ₹105.14 crore IPO of Spectrum Talent Management IPO comprises entirely of a combination of a fresh issue of shares and an offer for sale (OFS) by promoters and early shareholders.

  • Jun 07, 2023
IKIO Lighting IPO GMP (Grey Market Premium)

IKIO Lighting IPO worth ₹607 crore comprises of an offer for sale and also of a fresh issue of shares. The offer for sale (OFS) component is by the promoters and early shareholders of the company.

  • Jun 07, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number