Shares of Kabra Extrusiontechnik (KET) soared 16 per cent to hit a record high of Rs 248.60 on the BSE in the intra-day trade on Tuesday after Battrixx, the company’s battery division, announced its association with WardWizard Innovations and Mobility. The stock surpassed its previous high of Rs 244.40, touched on August 18, 2021.
Battrixx said it has received its single largest order to supply 8000 battery packs for Joy E-Bike (electric two-wheelers) produced by WardWizard.
WardWizard Innovations & Mobility is one of the leading auto manufacturing companies in the electric vehicle (EV) segment under the brand name Joy e-bike, providing a greener alternative to traditional fuel-driven bikes.
Battrixx is positioned to provide wide range of advanced lithium-ion battery packs with smart Battery Management System (BMS) to power the growth of India’s transition to green energy storage and electric transportation. Battrixx offers light weight, high efficiency, long life, maintenance free, high energy density with low charging time, low energy cost, smaller carbon footprint batteries.
KET has been the country’s largest manufacturer of plastic extrusion machinery for more than 4 decades and has recently ventured into manufacturing of lithium-ion battery packs.
Thus far in the calendar year 2021, the stock of KET has zoomed 154 per cent as compared to a 17 per cent gain in the S&P BSE Sensex.