The shares of India’s leading renewable energy developer and operator surged 10% upper circuit to ₹22.15 per share after the company made its entry into the high-speed electric scooter market with the pre-launch of its scooter, “CHETNA,” in the Indian market.
Urja Global Ltd shares surged to hit the upper circuit in Monday’s trade, reaching an intraday high of ₹22.15 per share. The company currently holds a market capitalization of ₹1,164 crore.
What Happened:
According to an exchange filing by Urja Global Ltd, the company has announced the pre-launch of its new high-speed electric scooter, CHETNA, which has recently received its Homologation Certificate.
The company announced that the pre-launched CHETNA high-speed scooter features a cutting-edge Lithium-Ion (Li-Ion) battery, delivering an impressive range of over 100 kilometers on a single charge.
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About the company:
Urja Global Ltd is a leader in the renewable energy sector, specializing in off-grid and grid-connected solar power plants, decentralized solar applications, and the trading of solar products. The company also manufactures lead-acid batteries and electric vehicles, with a notable presence in the production of low-speed scooters in the non-RTO segment.
Financials:
The company has achieved a 12.5% year-on-year revenue growth, increasing from ₹ 39.58 crore in FY22-23 to ₹44.47 crore in FY23-24. During the same period, net profit surged by 33%, rising from ₹1.53 crore to ₹2.04 crore.
Urja Global Ltd shares have experienced a significant gain of 122% over the past year. For instance, a shareholder investment of ₹ 1 lakh in the company a year ago, would be worth ₹2.22 lakhs.
Written by Omkar Chitnis
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