Exicon Tele hits 5% UC
Exicon Telesystems, India's largest EV charging and critical power solutions manufacturer yesterday after market hours, announced that it has a MoU with Mufin Green Infra a leading provider of turnkey project solutions for EV charging infrastructure. The MOU will ensure the creation of end-to-end EV charging solutions including installation of EV chargers & setting up of EV charging infrastructure.
The collaboration will target customers like Charge Point Operators, bus operators, state utilities, and other end-users to accelerate EV adoption with state-of-the-art charging solutions.
Under the MoU, Exicom will manufacture and supply EV charging hardware in compliance with industry standards, future ready specifications to support the EV ecosystem. The hardware will be equipped with Exicom’s proprietary software, designed with emphasis on efficiency and convenience and will provide technical support, maintenance service, warranty coverage as well as provide digital solutions.
Market is super thrilled with this news and the stock, which had closed yesterday at Rs.238.35, opened higher at Rs.248.30 and quickly hit the 5% UC of the day at Rs250.25. Its 52-week high is at Rs.530.40.
The company had its IPO in Feb’24 at price of Rs.142 and was listed at Rs.264.