Shares of this small-cap company jumped on announcing plans to bring new electric 2-wheelers

Shares of this small-cap company jumped on announcing plans to bring new electric 2-wheelers

by 5paisa Research Team Last Updated: Jan 16, 2023 - 05:56 pm 3.7k Views
Listen icon

The company is considering expanding its electric 2-wheeler portfolio by adding up vehicles in the mass and premium segments. 

The previous day’s close of the shares was at Rs 140.60. On Monday, the shares opened at Rs 140.15 and made the day high at Rs 143.35 a piece. 

In the future, Greaves Cotton intends to introduce new electric two-wheelers in both the mass and premium markets as it seeks to increase its market share in the domestic market. Primus, Magnus EX, and Reo Plus are electric two-wheeler models that Greaves Electric Mobility, the company's subsidiary, offers under the Ampere brand.

The company plans to introduce electric scooters above and below the Rs 80,000 to Rs 1 lakh range where it currently sells its products. It is currently showcasing its new Ampere Primus high-speed B2C e-scooter at the ongoing Auto Expo 2023 along with five new product concepts, including Ampere NXG and Ampere NXU. 

Greaves Cotton Limited, often known as Greaves, is one of India's top-tier and most diverse engineering firms with a long history and strong reputation that has impacted a million people's lives every day. Manufacturer of Cleantech powertrains for the CNG, petrol, and diesel industries, Greaves is an industry leader in fuel-independent powertrain solutions. 

The firm has several business divisions, including Automotive, Non-Automotive, Aftermarket, Greaves Retail, Electric Mobility (Ampere Electric for e-rickshaws, various electric industrial items, and scooters), and Greaves Finance. 

The 52-week high of the stock is Rs 258.85 whereas the 52-week low was Rs 124.15. Promoter’s holdings stood at 55.54%, whereas Institutional and Non-Institutional holdings are 9.25% and 35.20 %, respectively. Presently, the market cap of the company is Rs 3,287.03 crore. 

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

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

Disclaimer

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.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.