India's Wardwizard Innovations surges on EV deal with Gujarat state

Wardwizard Innovations & Mobility

26/10/2023 09:47

** Shares of Wardwizard Innovations & Mobility  WARW.BO 
rise as much as 13.19% to 43 rupees apiece - biggest intraday
gain in seven months 
    ** Electric vehicles (EV) manufacturer signs a memorandum of
understanding (MoU) with the government of Gujarat state to
invest 20 bln rupees 
    ** WARW to develop an EV ancillary cluster by 2024,
including setting up facilities for motor assembly and lithium
ion cell production
    ** Trading volume is 1.23 mln shares as of 2:06 p.m. IST,
1.3 times the 30-day avg - LSEG data
    ** WARW shares down 37% YTD

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))