Introduction:
The leading Indian manufacturer has signed an exclusive agreement with a prominent EV player to produce electric vehicles, lithium-ion batteries, and related components. The collaboration aims to boost EV adoption in emerging markets, with both companies leveraging their strengths to drive future growth.
Share price movement of PG Electroplast Limited:
On November 19, 2024, PG Electroplast Ltd. opened at ₹652.95, marking a 4.52% increase from its previous close of ₹624.65. The stock reached an intraday high of ₹718.35, showing a 15.01% rise, and an intraday low of ₹652.75, up 4.50%.
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By 10:21 AM, it was trading at ₹691.35, reflecting a 10.68% increase. The market capitalization for the day stood at ₹18,140.42 crore.
PG Electroplast Limited partners Spiro for EVs:
PG Electroplast Ltd. (PGEL), through its subsidiary PG Technoplast Pvt. Ltd., has signed an exclusive agreement with Spiro Mobility to manufacture Electric Vehicles (EVs), Lithium-Ion batteries, and components in India. PG Technoplast will handle manufacturing, setup, and procurement, while Spiro oversees R&D, marketing, and sales.
Vishal Gupta, PGEL’s Managing Director (Finance), highlighted this partnership as a significant growth opportunity for the company, positioning it to become a prominent player in the Indian EV market. He expressed confidence in the collaboration with Spiro Mobility.
Spiro Mobility CEO Kaushik Burman emphasized Spiro’s leadership in Africa’s EV market and praised PG Technoplast’s expertise and execution capabilities. He believes the partnership will expand EV adoption in emerging markets and drive mutual success.
Recent news on PG Electroplast Limited:
As of November 12, 2024, PG Electroplast’s share price surged by 5% after the company reported strong Q2 results, beating analyst estimates. The company’s revenue rose 28% year-on-year to ₹543.6 crore, while its net profit increased by 21% to ₹22.3 crore. Analysts are optimistic about the company’s growth trajectory.
Ace investor holding in PG Electroplast Limited:
Mahesh Dinkar Vaze
Mahesh Dinkar Vaze holds 3,000,000 shares in PG Electroplast Ltd. [NSE: PGEL], accounting for 1.15% of the company’s total holding. With a current price of ₹688.20 per share, the total holding value amounts to ₹206.5 crore.
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Stock performance of PG Electroplast Limited for Period of 1 week, 6 months and 1 year:
PG Electroplast Limited’s stock has faced a 3.84% decline over the past week. However, the company has seen a remarkable 149% return over the last six months and a strong 167% gain over the past year, reflecting its overall positive performance.
Shareholding pattern of PG Electroplast Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 | |
| Promoter | Promoter | 53.40% | 53.60% | 53.60% |
| FII | FII | 10.70% | 10.80% | 11.10% |
| DII | DII | 9.80% | 10.20% | 9.90% |
| Public | Public | 25.90% | 25.20% | 25.20% |
| Others | Others | 0.20% | 0.30% | 0.30% |
About the company PG Electroplast Limited:
PG Electroplast [NSE: PGEL] is a leading provider of Electronic Manufacturing Services (EMS) and contract manufacturing in India. With extensive expertise in Plastic Injection Molding, the company specializes in OEM and ODM products like Room ACs, Washing Machines, Air-Coolers, and LED TVs, serving top consumer durable and electronics brands.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
