Rasandik Engineering Industries India hits new 52-week high on launch of e-auto vehicle

18 Jan 2022 , 10:44 AM

Rasandik Engineering Industries India Ltd stocks hit new 52-week high at Rs136.40 per piece on Sensex after launching new products "Electric Auto/ E-Auto" under the Brand Name 'Samrat'.

In a regulatory filing, the company said, "The Country is shifting towards Electric Vehicles to address chronic air pollution problems and reduce greenhouse gas (GHG) emissions and number of actions are being taken to reduce harmful emissions at their sources can achieve major wins for public health in the near-term and long-term, for the environment, and for the India’s economy.

In order to fulfill the zero emission norm and reduction of greenhouse gas, currently the Company has Commenced Electric Vehicle manufacturing. The Company has started Electric Auto (Electric Vehicle) Manufacturing at its Plant at Surajpur, Greater Noida, Uttar Pradesh," the company added. 

Further, the Company launched its first Electric Auto, developed internally by its own the Design and Development Department in order to fulfill the requirements of the Indian market and the Company is committed and contributing towards the Make-in-India mission of Government. The said Manufacturing Unit of the Company will manufacture and supply the said Electric Vehicle (EV) domestically to cater to the Indian automotive market as well as explore the export market, it added.

At around 9:43 AM, Rasandik Engineering Industries India was trading at Rs132 per share up by Rs8 or 6.45% on Sensex.