The share price of this small-cap company gained up to 6 percent after the company received an order for a supply of electric bikes from Adani Green Energy Ltd.
With a market capitalization of Rs 8,756.6. crores, Rattanindia Enterprises Ltd, On Thursday, the company shares were trading at Rs 63.10, an increase of 5.77 percent from the previous close price of Rs 59.66 a share.
According to the exchange filing, Rattanindia Enterprises Ltd. is a wholly-owned Subsidiary Revolt Motors received an order for a supply of electric bikes from Adani Green Energy Ltd, the purpose of this consignment is to reduce carbon emissions and embrace environmentally responsible transportation options.
Revolt Motors Ltd a wholly-owned Subsidiary of Rattanindia Enterprises Ltd is renowned for producing cutting-edge electric motorcycles that blend cutting-edge technology with exceptional performance.
Looking into the company’s performance, the company’s revenue increased by 84 percent from Rs 689.46 Cr Q1FY23 to 1,267.6 crore Q1FY24, Further, during the same period Net profit increased from a loss of Rs 212 Cr to a profit of Rs 148.69 crore.
Rattanindia Enterprises Ltd’s recent shareholding pattern, The Promoters of the Company own 74.89 percent while Retail shareholders own a 15.7 percent stake in the company and Foreign Institutional Investors own a 9.4 percent stake.
Rattanindia Enterprises Ltd stock gave a 58.40 percent return in six months and 20.13 percent in a year. Rattan India Enterprises Limited is involved in the supply of labor for software design and development. In addition, it offers advisory, financial, human resource, and legal services.
Written By:- Abhishek Singh
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