InvestorQ : What explains the sharp up move in the stock of Greaves Cotton?
NISHA Nayak made post

What explains the sharp up move in the stock of Greaves Cotton?

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Priyanka N answered.
4 months ago
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The stock of Greaves Cotton, which hardly moved for a long time, has suddenly seen a lot of action. This has a lot to do with the EV ecosystem where Greaves Cotton is becoming a big stake holder in. The stock on Wednesday was up 11% at Rs.171 on the back of very heavy volumes. This rally came after Greaves Electric Mobility confirmed that it had plans to double its production capacity to cater to the growing EV demand in India.

Greaves has emerged as one of the leading manufacturers of eco-friendly 2 and 3-wheelers in India. It has sold over 10,000 units of these EVs in Dec-21. Greaves Electric Mobility is currently working on a new array of products and these encompass a high-speed electric scooter and an electric three-wheeler cargo vehicle. The main focus of Greaves Cotton is to largely focus on the last mile delivery space, which is where EVs can work efficiently.

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