Wardwizard Innovations share: Electric vehicle manufacturing company- Wardwizard Innovation and Mobility Limited has received a big order from abroad. The company has received this order from Beulah International Development Corporation of the Philippines. This order is worth 1.29 billion dollars. Amidst this news, investors fell on the company’s shares on Friday. The share closed at Rs 52.26 on the last trading day of the week. This stock has increased by 1.55% compared to a day ago. This share has reached the level of Rs 52.75 in intra-day.
What is the company’s plan?
Wardwizard Innovation and Mobility Limited will distribute electric and three-wheeler vehicle products from its existing portfolio to the commercial and passenger vehicle segments. The company will develop four-wheelers for commercial vehicles for the Philippines market.
Order details
The order is part of a strategic collaboration formalized through a Memorandum of Understanding (MoU) to revolutionize the public transportation system in the Philippines with electric vehicles. The company said the partnership aims to transform public transportation in the Philippines by bringing new electric vehicle technology, creating new job opportunities and supporting the local economy. Through this strategic partnership, WardWizard Innovation & Mobility and Beulah International will bring new electric vehicle technologies to the Philippines with the aim of transforming the transportation outlook.
Wardwizard Innovations & Mobility Limited is a manufacturer of electric vehicles in India under the Joy e-Bike and Joy e-Rec brands. BEULAH International Development Corporation (BEULAH) is a Philippines-based company supported by RPConnect Group.
Promoters hold 67.46 percent stake
Talking about shareholding pattern, promoters hold 67.46 percent stake. At the same time, public shareholders hold 32.54 percent shares of the company. Yatin Sanjay Gupta has 35.48 percent stake in the promoters. This stake is equal to 9,24,88,000 shares.
