A new EV company’s stock skyrockets in the electric vehicle segment. The share of Indian electric vehicle manufacturer Wardwizard Innovation & Mobility Limited was seen trading at record highs during trading session on June 10. The company’s share surged by 20% to reach an all-time high of ₹62.5 during the day’s trading.
Wardwizard Innovation & Mobility has signed a deal worth approximately $1.29 billion with the Philippines’ Beulah International Development Corporation. This news has led to a significant increase in the company’s share price.
Through this deal, Wardwizard Innovation & Mobility Limited plans to introduce electric two-wheelers and three-wheelers in the commercial and passenger vehicle segments. Additionally, the company will develop four-wheelers for the commercial vehicle segment targeting the Philippines market.
Regarding Wardwizard Limited’s stock performance, the share has given a return of 30% over the past year. In 2024, the stock has delivered a flat return of 11%. Over the past week, the share has generated a profit of over 20%.
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