Penny Stock Under Rs 10 Hits 5 Per Cent Upper Circuit After Subsidiary Signs MoU To Lease 7,500 EVs From WardWizard, Targeting Rs 300 Million Revenue
On the YTD basis, the stock is trading up by 10 per cent and in last 3 months it is up by 39 per cent.
On Tuesday, May 20, 2025 share price of Kaiser Corporation Ltd locked in the 5 per cent upper circuit as the company signed an MoU with Wandwizard Innovation and Mobility. Kaiser Corporation Ltd is pleased to announce that its subsidiary, Xicon International Limited, has entered into a Memorandum of Understanding (MoU) with WardWizard Innovation and Mobility Limited, a leading manufacturer in the electric vehicle (EV) sector.
Under the terms of the MoU, Xicon International Limited will lease 7,500 electric scooters from WardWizard over the course of FY 2025-2026 and FY 2026-2027. These vehicles are intended to be further leased to various logistics and last-mile delivery partners across Mumbai, Pune and Ahmedabad, supporting the ongoing shift towards sustainable transportation solutions.
This strategic initiative is expected to contribute to a gradual revenue boost in the range of Z300- 300 million rupees for Kaiser Corporation’s Subsidiary over the leasing term. The partnership reflects the Company’s commitment to promoting green mobility and tapping into the rapidly growing EV logistics ecosystem.
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Incorporated in 1993, Kaiser Corporation Ltd is in the printing business and also provides turnkey project management and engineering services through its subsidiary. KCL is engaged in the business of printing labels, stationery items, magazines, and cartons. In addition to its core printing operations, the company has diversified into other sectors through its subsidiaries. These include engineering goods, electric and mechanical heat tracing systems, as well as undertaking turnkey projects.
One of its key subsidiaries, Xicon International Ltd, focuses on delivering specialised electronic and engineering services. It caters primarily to industries such as pipe manufacturing, power plants, and electronic heat applications, both in India and international markets. Xicon is a service-driven company known for executing turnkey projects and system-based solutions.
KCL’s clientele includes notable organisations such as BHEL, Tata Power Projects, ONGC, Linde, Indian Oil, and Bharat Petroleum, among others, indicating its presence across key infrastructure and energy sectors.
On the YTD basis, the stock is trading up by 10 per cent and in the last 3 months it is up by 39 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.