Rattan India enterprises Secures Order for E-bikes from Adani Green Energy, Shares jumps 5%

Rattan India Enterprises : Revolt Motors, a leading electric motorcycle company, will supply environment-friendly vehicles to the corporate fleet of renewable energy company Adani Green Energy Ltd (AGEL), Rattan India said in an exchange filing.

 

Rattan India Enterprises witnessed a surge of over 5% in its stock on 9 november following the announcement that the company’s electric vehicle motorcycle brand, Revolt Motors, has successfully secured an order from Adani Green Energy Ltd (AGEL) for the supply of electric bikes.

The environmentally friendly vehicles provided by Revolt Motors offer efficient, zero-emission transportation, contributing to the shared goal of embracing eco-friendly commuting options.

 

Rattan India enterprises Secures Order for E-bikes from Adani Green Energy, Shares jumps
Rattan India enterprises Secures Order for E-bikes from Adani Green Energy, Shares jumps

 

The exact details of the order, including the quantity and the financial value, were not disclosed in the announcement. However, Rattan India emphasised that this strategic move aligns with AGEL’s commitment to reducing its carbon footprint.

The deal signifies a crucial step towards sustainable transportation solutions, showcasing the dedication of both Rattan India and AGEL to a cleaner and greener future, as stated in the regulatory filing. 

Revolt Motors is a key player in the electric motorcycle industry and has been making strides in the new-age business sectors, including electric vehicles, e-commerce, financial technology, fashion, and drones. 

The company has recently expanded its reach by announcing the opening of 52 new dealerships across the country, reinforcing its commitment to providing comprehensive services, from sales to technical support.

Following this positive development, Rattan India’s shares reached an intraday high of Rs 64.1 per share, an increase of more than 7% from the last closing price on the National Stock Exchange (NSE). At 2 pm, the stock was trading 6.03% higher at Rs 63.35.

 

 

2023-10-13 (4)

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