Authored by Raman Bhatia, Founder & Managing Director of Servotech Power Systems Ltd, this article shares his valuable insights about the EV and solar industry

With a market capitalisation of just Rs 498 Crore, the stock has displayed remarkable performance in recent times, delivering a 75 per cent return over the last month and an impressive 121 per cent return year to date. 

The net profit skyrocketed 966.91 per cent and the net profit rose 89.81 per cent in Q2FY23 compared to Q2FY22.

The stock is trading at less than half the P/E multiple of Tata chemicals 

The PE multiple for EIL is 13.74, while the PE multiple for the sector is 25.3. The stock generated gains of more than 45 per cent in just six months.

The company announced that they have received the largest single order from one of India’s leading solar panel manufacturing company. 

Today, the shares of this company saw a spurt in volume by more than 83 times on BSE.

This new investment to further strengthen Reliance’s leadership in advanced solar cell technology.

The core equity indices, i.e., Sensex and Nifty ended on a higher note on Budget Day.  

Sensex went up by 848.40 points or 1.46 per cent. The top five gainers from the pack were Tata Steel, Sun Pharmaceuticals, IndusInd Bank, Larsen & Toubro, and UltraTech Cement. Meanwhile, on the flip side, the top losers included Mahindra & Mahindra, Power Grid Corporation of India, SBI, Bharti Airtel, and NTPC.