The stock is up 65% from its 52-week low of Rs 33.21 per share, giving the multibagger more than 550% return in five years.
Word Wizard Innovation & Mobility Co., Ltd.India’s leading manufacturer of electric vehicles under the Joy e-bike brand has signed a Memorandum of Understanding (MOU) with Triton EV, a prominent US-based electric vehicle manufacturer. This strategic partnership spans five years and aims to revolutionize the electric vehicle landscape in both India and the UAE.
Triton EV has selected WIML as its manufacturing partner for electric trucks in India and the UAE, and WIML will also produce two-wheelers and three-wheelers for Triton EV. The partnership aims to promote electric vehicles and align with the government’s green mobility goals. In particular, Triton EV will transfer hydrogen battery technology and support the startup of WIML’s production line. Additionally, the two companies will share vendors and suppliers and collaborate on vendor development.
WIML also plans to start manufacturing hydrogen fueled trucks, two-wheelers and three-wheelers in India soon. This partnership represents an important step towards electric mobility in India and the UAE, with both companies committed to driving innovation and environmental responsibility in the EV space.
Prior to this, the company has collaborated with the Gujarat government to invest Rs 2,000 crore in developing electric vehicle auxiliary clusters by 2024. The initiative will focus on research and development, motor assembly, lithium-ion battery production and raw material manufacturing, and aims to produce more than 5,000 electric vehicles. Create jobs and propel India’s electric mobility sector. This collaboration marks a significant step towards a self-reliant and sustainable future, creating a greener India.
The company falls under BSE small cap stocks An index with a market capitalization of Rs 1,378.3 million. The company has demonstrated impressive financial performance, with an impressive compound annual growth rate (CAGR) of 292% in earnings over the past five years. This strong growth is further complemented by healthy growth. dividend With a dividend payout ratio of 36.4%, the company continues to reward shareholders.
On Friday, WardWizard Innovation & Mobility’s share price rose 9.7% to an intraday high of Rs 55 per share from the previous closing price of Rs 50.14. The stock traded at an intraday high of Rs 44.80 and an intraday low of Rs 42.09. Due to the impact of the BSE, the trading volume of the company’s stock soared more than 3.32 times.
The stock is up 65% from its 52-week low of Rs 33.21 per share. multibagger Over 550% return in 5 years. Investors should keep an eye on this EV stock.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
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