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Greaves Cotton jumps over 5% as its arm launches first showroom in Nepal

04 December 20233 mins read by Angel One
This strategic expansion marks a significant milestone in the company’s EV journey, expanding its reach beyond India's borders and addressing the evolving demands of the Nepalese market.
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At 3 pm, Greaves Cotton shares were trading at Rs 139, up by 5.22%% from its previous closing of Rs 132.10 on the BSE.

Foray into the global market 

Greaves Cotton’s subsidiary, Greaves Electric Mobility (GEMPL) has forayed into the global market with the launch of its first showroom in Nepal in collaboration with the Kedia Organisation, a prominent business conglomerate.

This strategic expansion marks a significant milestone in GEMPL’s EV journey, expanding its reach beyond India’s borders and addressing the evolving demands of the Nepalese market. The company’s ‘Ampere’ brand has unveiled its maiden flagship showroom in Teku, Kathmandu, and is set to establish multiple outlets and dealerships nationwide. The Kedia Organisation will be the exclusive authorised distributor for Ampere Electric two-wheelers’ sales, marketing, distribution, and after-sales support in Nepal.

Company profile 

Greaves Electric Mobility Private Limited (GEMPL), the electric mobility business of Greaves Cotton Ltd, is a leading player in Electric Vehicle (EV) technology in India. With comprehensive support from GCL’s EV ecosystem, GEMPL has been designing and manufacturing electric vehicles for over 13 years and has established a strong presence in the electric 2-wheeler and 3-wheeler segments. In the electric 2-wheeler segment, the ‘Ampere’ brand is a fast-growing e-scooter brand with a strong presence in both B2C and B2B segments.

Stock price movement 

On Monday, the stock opened at Rs 133.40 and touched a high and low of Rs 139.45 and Rs 131.85, respectively. The BSE group ‘A’ stock of face value of Rs 2 has a 52-week high and low of Rs 164.80 and Rs 118.70, respectively. Last one week high and low of the scrip stood at Rs 139.45 and Rs 130.80, respectively. The current market cap of the company is Rs 3,209.72 crore.

The promoters holding in the company stood at 56%, while Institutions and Non-Institutions held 8% and 36%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions

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