Greaves Cotton, a outstanding participant within the diesel engine sector, reached a lifetime excessive of Rs 269 on Dec. 27, 2024. The inventory surged by 14.40%, considerably outperforming its sector by 14%, and has posted a powerful 80.47% acquire over the previous 12 months. The inventory has risen over 10% in final 5 days alone and over 44% in previous one month.
This uptick in Greaves Cotton’s inventory comes on the again of optimistic market sentiment surrounding its electrical car subsidiary, Greaves Electrical Mobility. Final week, the EV arm filed a draft prospectus for an preliminary public providing (IPO), aiming to boost Rs 1,000 crore via a contemporary situation of shares. Moreover, a proposal on the market of as much as 18.9 crore shares is about to be carried out by Greaves Cotton and Abdul Latif Jameel Inexperienced Mobility Options DMCC.
A pre-IPO placement of Rs 200 crore can also be being deliberate, which can scale back the quantity raised via the contemporary situation, relying on its success. The transfer to go public underscores Greaves Electrical Mobility’s rising presence within the EV market, with a portfolio that features manufacturers like Ampere, Eltra, and Ele. The corporate operates in each the B2C and B2B segments of the electrical two-wheeler and three-wheeler markets.
