Kranti Industries Rises 3.17% After ₹2 Crore EV Components Order

Pune, October 14: Kranti Industries Limited’s share price is witnessing strong investor demand today, after securing approval from Pinnacle Mobility Solutions Pvt Ltd (Eka Mobility) to start series production of EV components for three-wheeler commercial vehicles.. As of 3:15 PM, the shares of the company were up by 3.17%, or 2.69 points, and were trading at ₹87.50. Until now, the shares have traded within a range of ₹88.99 and ₹84.24. The traded volume stood at 14.17 thousand shares, with the company’s market cap at ₹108 crore. The shares have their 52-week high at ₹119.79 and 52-week low at ₹59.

Kranti Industries Limited is an Indian company that is engaged in the manufacturing of precision-machined components. The company was established in 1982 and is headquartered in Pune, Maharashtra.

Key Trigger: ₹2 Crore EV Components Order

The rise in the share price comes after the company announced that it has secured approval from Pinnacle Mobility Solutions Pvt Ltd (Eka Mobility) to begin series production (job work) of EV components for three-wheeler commercial vehicles. According to the company’s filing, the approval from Eka Mobility is expected to generate an annual business value of about ₹2 crore. A domestic client has awarded the order and does not involve any related-party transactions. Production will commence in line with the terms mentioned in the purchase order.

The order will positively contribute to the company’s order book and will help in providing revenue visibility. If executed well, it will add to the company’s portfolio, which it can leverage to secure new orders in the future.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/52790b38-f81c-4fac-bc87-d0d4b83d6874.pdf

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