Pavna Industries touches roof on inking agreement with OLA Electric
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Pavna Industries is currently trading at upper limit of Rs. 561.40, up by 26.70 points or 4.99% from its previous closing of Rs. 534.70 on the BSE.
The scrip opened at Rs. 545.40 and has touched a high and low of Rs. 561.40 and Rs. 533.75 respectively. So far 4277 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 640.05 on 10-Jan-2024 and a 52 week low of Rs. 265.00 on 25-Jul-2023.
Last one week high and low of the scrip stood at Rs. 561.40 and Rs. 502.50 respectively. The current market cap of the company is Rs. 683.83 crore.
The promoters holding in the company stood at 70.44%, while Non-Institutions held 29.56% stake in the company.
Pavna Industries has inked an agreement with OLA Electric to supply ignition switches and latches. This contract further consolidates the company’s foray into the two-wheeler electric vehicle segment.
Under this agreement, Pavna Industries commits to providing high-quality ignition switches and latches to OLA Electric across its manufacturing plants in India. Ola Electric Mobility, headquartered in Bengaluru, is India's largest electric two-wheeler manufacturer, renowned for its commitment to sustainability and innovation. It has been playing an instrumental role in driving EV adoption and penetration in India.
This agreement highlights Pavna’s dedication to meeting the demands of the modern automotive industry while further solidifying its position as a leading Indian automotive parts manufacturer.
Pavna Industries along with its subsidiaries is engaged in the business of manufacturing of automotive parts, providing solutions for automobile applications and serving automobile & other applications worldwide.
