Kabra Extrusiontechnik rallies 16% as Battrixx gets single largest order

Shares of Kabra Extrusiontechnik (KET) soared 16 per cent to hit a record high of Rs 248.60 on the BSE in the intra-day trade on Tuesday after Battrixx, the company’s battery division, announced its association with WardWizard Innovations and Mobility. The stock surpassed its previous high of Rs 244.40, touched on August 18, 2021.

Battrixx said it has received its single largest order to supply 8000 battery packs for Joy E-Bike (electric two-wheelers) produced by WardWizard.

WardWizard Innovations & Mobility is one of the leading auto manufacturing companies in the electric vehicle (EV) segment under the brand name Joy e-bike, providing a greener alternative to traditional fuel-driven bikes.

Battrixx is positioned to provide wide range of advanced lithium-ion battery packs with smart Battery Management System (BMS) to power the growth of India’s transition to green energy storage and electric transportation. Battrixx offers light weight, high efficiency, long life, maintenance free, high energy density with low charging time, low energy cost, smaller carbon footprint batteries.

KET has been the country’s largest manufacturer of plastic extrusion machinery for more than 4 decades and has recently ventured into manufacturing of lithium-ion battery packs.

Thus far in the calendar year 2021, the stock of KET has zoomed 154 per cent as compared to a 17 per cent gain in the S&P BSE Sensex.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share Market Today