Fiem Industries Emerged As The Sole Supplier Of Ola Electric Auto Parts.
So far this year, Fiem Industries’ stock price has risen 68%, while Sensex’s rise is 16.5%.
After the company notified the exchange to become the sole supplier of certain auto parts for Wave Electric Mobility, the share price of auto lamp and indicator manufacturer Fiem Industries rose 20% to a record high of Rs 951.80. The company stated in the trade-in document that Fiem Industries has become the sole supplier of Ola Electric Mobility’s headlights, taillights, gauges, rear fender components and rearview mirrors.
“After the public launch of Ola Electric Mobility Pvt. Ltd. (Ola Electric) Scooter $1 and $1 Pro yesterday, in order to disseminate information to all investors and exchanges, we are pleased to report that Fiem Industries Limited is a unique Ola Electric company. Supplier of headlights, taillights, meters, rear fender mounts and rearview mirrors,” Fiem Industries said.
“In addition to our existing other electric vehicle customers, this is a historic addition to us. We are happy and fully prepared to meet all future needs of Ola Electric. The company has seen the development of 2-wheel electric vehicles in India. Great potential. (EV) And in the future, we hope to gain a greater market share in this area,” the Delhi-based company added.
As of 11:40 in the morning, Fiem Industries’ stock price rose 15% to 914 rupees, outperforming Sensex, which traded at the same price.
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