Wardwizard Innovations share price hits upper circuit after bagging $1.29 bn contract from Beulah International

As soon as the market opened on June 10 at 9:15 am on BSE, the share price of Wardwizard Innovations & Mobility Limited set a new upper circuit at ₹62.71, up 20%.

As per the company website, Wardwizard Innovations is an electric vehicle (EV) company with a market capitalization of ₹1800 crore. The EV maker is listed on BSE. According to BSE, the company is still down almost 27% from its 52-week high of ₹86.50.

The share price increase for Wardwizard Innovations was a result of the company’s announcement on June 7th regarding receiving a significant order from Beulah International Development Corporation, a Philippines-based corporation, valued at USD 1.29 billion (about ₹10,768 crore). As part of this agreement, Wardwizard will provide electric two- and three-wheelers for both the commercial and passenger segments. The company will also create four-wheeler commercial cars specifically for the Philippine market.

“India is becoming a hub of electric mobility for the global market, and such collaborations are a testament to our efforts in this direction,” Wardwizard Innovations Mobility Chairman & Managing Director Yatin Gupte said, as reported by PTI.

 

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