Wardwizard Innovations jumps on the BSE

Wardwizard Innovations & Mobility is currently trading at Rs. 55.53, up by 1.30 points or 2.40% from its previous closing of Rs. 54.23 on the BSE.

The scrip opened at Rs. 55.85 and has touched a high and low of Rs. 57.45 and Rs. 55.10 respectively. So far 2128846 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.50 on 15-Jan-2024 and a 52 week low of Rs. 35.70 on 03-Oct-2023.

Last one week high and low of the scrip stood at Rs. 57.96 and Rs. 53.01 respectively. The current market cap of the company is Rs. 1480.74 crore.

The promoters holding in the company stood at 58.63%, while Institutions and Non-Institutions held 0.02% and 41.36% respectively.

Wardwizard Innovations & Mobility (WIML) has received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a Joint Venture in the Kingdom of Saudi Arabia (KSA). This strategic collaboration marks a significant step in Wardwizard’s global expansion and commitment to sustainable mobility solutions. A comprehensive feasibility study has already been completed, confirming the viability of these ventures in Saudi Arabia. The positive outcome of this study supports Wardwizard's decision to proceed with the Joint Venture, which aligns with the KSA’s vision for sustainable development.

The proposed Joint Venture involves setting up two plants in Saudi Arabia, which shall include: Assembly Plant and EV Cells Plant. Wardwizard Innovations will outline its proposed investment and stake in the Joint Venture, demonstrating its strong commitment to supporting sustainable mobility in the Kingdom of Saudi Arabia. As part of the Joint Venture, Wardwizard Innovations will bring its technological expertise and intellectual properties (IPs), including its advanced EV technologies and innovative manufacturing processes. These contributions are expected to strengthen the joint venture’s position in the growing EV market and support Saudi Arabia’s transition towards an environmentally friendly transportation ecosystem.

The Joint Venture will leverage Wardwizard’s expertise in electric mobility to support Saudi Arabia’s transition towards a greener and more sustainable transportation infrastructure.

Wardwizard Innovations & Mobility is an innovation-driven company which is India's First BSE listed EV manufacturing company.