Greaves Cotton moves up as its arm partners with Indofast Energy
Greaves Cotton is currently trading at Rs. 238.40, up by 3.05 points or 1.30% from its previous closing of Rs. 235.35 on the BSE.
The scrip opened at Rs. 238.85 and has touched a high and low of Rs. 242.05 and Rs. 234.50 respectively. So far 176325 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 319.50 on 30-Dec-2024 and a 52 week low of Rs. 112.50 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 244.75 and Rs. 219.05 respectively. The current market cap of the company is Rs. 5549.34 crore.
The promoters holding in the company stood at 55.88%, while Institutions and Non-Institutions held 5.90% and 38.22% respectively.
Greaves Cotton’s subsidiary -- Greaves Electric Mobility (GEML) has partnered with Indofast Energy, a 50-50 joint venture between Indian Oil and SUN Mobility to enhance last-mile transportation for B2B fleets and ride-sharing services by aiming to offer innovative, efficient and tailored e-2W and energy solutions that meet the industry’s evolving needs. The partnership unveils the Ampere ‘Magnus SW.S’, powered by Indofast Energy’s battery swapping technology. Designed for gig economy riders covering 100+ kms daily, this solution aims to minimize downtime with quick battery swaps. Leveraging Indofast Energy’s rapidly growing battery-swapping network, customers can seamlessly replace depleted batteries with fully charged ones, reducing operational costs and enhancing efficiency.
Ampere ‘Magnus SW.S’ features a motor power of 2.4 kW for easy gradeability and smooth performance - even on steep gradients, with heavy loads or with carrying a pillion rider for ride share operations. The scooter is equipped with payload capacity of 151 kg, making it ideal for heavy-duty use. Additionally, its IoT-enabled capabilities provide efficient connectivity and aims to provide improved fleet management solutions for operators.
This partnership further enhances GEML’s position in the electric mobility sector, offering sustainable transportation solutions that blend performance and environmental consciousness.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of several years impacting a million lives every day.
