This small-cap stock jumps more than 5% after the company announced a business update for September month. The stock price is being held up by strong and rising volume that is greater than usual compared to the previous day and week.
Wardwizard Innovation & Mobility Ltd
Wardwizard Innovation & Mobility Ltd the company has a market capitalisation of Rs. 1,042 Cr, making it a small-cap company. On Friday stock climbed over 5%, at 13:40 p.m., shares were trading 4.25% up at Rs. 39.96 on BSE.
According to the exchange filing, the company achieved remarkable sales figures in September 2023, with 2,824 units of both low-speed and high-speed electric two-wheelers. This achievement represents an 89% growth compared to the company’s sales figures in August 2023, when it sold 1,496 units of electric two-wheelers.
The company’s revenue declined by 30.7% from Rs. 54.67 Cr in Q1 FY23 to Rs. 37.87 Cr in Q1 FY24 and for the same period, net profits declined by 15% from Rs. 2.06 Cr to Rs. 1.75 Cr.
As of June 2023, Promoters hold 70.09% and the public hold a 29.91% stake in the company.
Wardwizard Innovations & Mobility Ltd. is one of India’s major auto manufacturing businesses in the Electric Vehicle (EV) segment, under the brand name Joy e-bike. It is primarily concerned with the potential for growth in the Indian EV industry to have a positive impact in the future.
Written by Sheshadri N
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