Ravindra Energy touches the roof after its associate company inks pact with Beiqi FOTON Motor
Ravindra Energy is currently trading at its upper circuit limit of Rs 143.50, up by 23.90 points or 19.98% from its previous closing of Rs 119.60 on the BSE.
The scrip opened at Rs 127.95 and has touched a high and low of Rs 143.50 and Rs 125.15 respectively. So far 241013 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52-week high of Rs 166.95 on 26-Sep-2024 and a 52-week low of Rs 59.72 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs 143.50 and Rs 107.25 respectively. The current market cap of the company is Rs 2562.26 crore.
The promoters holding in the company stood at 64.77%, while Institutions and Non-Institutions held 4.57% and 30.65% respectively.
Ravindra Energy’s associate company -- Energy In Motion (EIM) has entered into an exclusive agreement with global commercial vehicle leader Beiqi FOTON Motor (FOTON) to launch their range of electric heavy commercial cargo vehicles in India. The commercial rollout of vehicles is scheduled to begin in Q2 of FY 2025-26.
This strategic partnership marks a significant milestone in the company’s commitment to accelerating India’s transition to sustainable transportation. Under the terms of the agreement, EIM will have exclusive rights to assemble and market FOTON’s advanced electric heavy-duty goods vehicles across India.
Ravindra Energy seeks to create a leading position in the provision of solar energy utilising the unique characteristics of solar PV generation.
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