The multi-bagger stock is in the news these days for foraying into the electric vehicle segment through the newly incorporated venture namely Wroley E India. According to an exchange filing, Goyal Aluminum will manufacture electric and low-speed scooters for the Indian market. The company in a statement said that the decision is in line with the government’s initiative of ‘Clean India and Green India’ in view of the rising pollution levels. Wroley E India has secured sanction for financing from Shri Ram Finance to offer customers financing solutions to purchase its electric scooter in monthly installments.
Source:- Business Today
This will make it easier for customers to choose e-scooters over existing fuel-mechanic vehicles in the two-wheeler segment, the statement said.The company has plans to launch high-speed electric scooters in April this year, for which it has secured approval from the Central Institute of Road Transport (CIRT).
Goyal Aluminum share price historyIn the last month, this small-cap multi-bagger stock has surged from around Rs. 214 to Rs. 280 apiece levels, ascending to the tune of 30 percent in this time. In the last six months, this small-cap stock has risen from 90 to u20b9280 per share levels, logging more than 200 percent in this time. In YTD time, this stock has risen around 45 percent while in the last year, it has shot up to the tune of 225 percent. Source: XiaomiGoyal Aluminum share price outlookAccording to Ravi Singhal, CEO, of GCL Broking, Goyal Aluminium shares are showing strength on daily and weekly charts with most of the momentum indicators in the bullish zone and well supported with volume growth. The stock has the potential to touch 350 – 400 levels in the short term.
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Multibagger stock that has surged 2300% in 5 years to foray into e-scooter space
By tirupatinews
