Wardwizard Innovations moves up on dispatching Customized Electric Three-Wheeler to Philippines
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Wardwizard Innovations & Mobility is currently trading at Rs. 43.17, up by 0.63 points or 1.48% from its previous closing of Rs. 42.54 on the BSE.
The scrip opened at Rs. 44.10 and has touched a high and low of Rs. 45.94 and Rs. 42.70 respectively. So far 284567 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.50 on 15-Jan-2024 and a 52 week low of Rs. 39.90 on 23-Oct-2024.
Last one week high and low of the scrip stood at Rs. 47.38 and Rs. 42.30 respectively. The current market cap of the company is Rs. 1126.46 crore.
The promoters holding in the company stood at 54.52%, while Non-Institutions held 45.47% stake in the company.
Wardwizard Innovations & Mobility (WIML) has successfully developed a customized electric three-wheeler, the e-Trike (Driver + 10), as part of its groundbreaking $1.29 billion order from Beulah International Development Corporation. This special vehicle, designed to enhance public transportation in the Philippines, has been dispatched for rigorous testing.
In addition to the e-Trike, Wardwizard will send other electric vehicles from its line up to the Philippines in February 2025 for testing to ensure suitability for the local market. These steps are part of Wardwizard Innovations commitment to supporting the Philippine Government’s Public Utility Vehicle Modernization Program (PUVMP), which aims to replace outdated vehicles with modern electric alternatives.
This development follows the Memorandum of Understanding (MoU) signed between Wardwizard Innovations and Beulah International Development Corporation, a prominent full-service business integration and EPC firm in the Philippines backed by RP Connect. This strategic collaboration aims to transform the Philippines' public transportation infrastructure by introducing advanced electric vehicles. Under this partnership, Wardwizard will supply electric two-wheelers, three-wheelers, and specially developed four-wheelers in the commercial vehicle segment.
Wardwizard Innovations & Mobility is an innovation-driven company which is India's First BSE listed EV manufacturing company.
