Wardwizard Innovations jumps on inking long term OEM agreement with A&S Power
Wardwizard Innovations & Mobility is currently trading at Rs. 41.10, up by 0.90 points or 2.24% from its previous closing of Rs. 40.20 on the BSE.
The scrip opened at Rs. 40.70 and has touched a high and low of Rs. 41.75 and Rs. 40.26 respectively. So far 597204 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 78.00 on 06-Dec-2022 and a 52 week low of Rs. 33.21 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 41.99 and Rs. 35.85 respectively. The current market cap of the company is Rs. 1068.58 crore.
The promoters holding in the company stood at 70.09%, while Non-Institutions 29.91% stake in the company.
Wardwizard Innovations and Mobility has taken a progressive step in the vision of establishing its EV Ancillary Cluster by signing a long-term Original Equipment Manufacturer (OEM) agreement with A&S Power, a renowned technology provider. This strategic partnership aims to drive research, innovation, and development of cutting-edge Next-Generation Li-ion cell technology and shall play a pivotal role in making Joy e-bike the home to India’s first EV Ancillary Cluster in Gujarat.
These developments exemplify the company's constant efforts to enhance product offerings for its customers and advancing its vision of establishing an EV Ancillary .This strategic advancement is in harmony with the establishment of Wardwizard Global Pte, the R&D Centre of Excellence in Singapore. Furthermore, a notable milestone of this journey has also been the commencement of 1GWh capacity, as a part of the Phase I development of EV Ancillary Cluster and in line with fulfilling the larger vision of sustainable EV manufacturing in India.
This collaboration will be extended further for ongoing research and development, as well as joint technological innovation at the Wardwizard’s Global advanced Li-ion cell Research Centre in Singapore. This collaboration will also focus on increasing the production capacity and simplifying the efficient supply of high quality next-gen Li-ion cells. A&S Power will also give technical help in the establishment of a collaborative production line, allowing Wardwizard to expand its manufacturing capabilities in India.
Wardwizard Innovations and Mobility is an innovation-driven company which is India's First BSE listed EV manufacturing company.