This Small Cap Stock Will Supply Electric Bikes To Adani Group, Shares Rocket 6%

Shares of RattanIndia Enterprises were soaring on Thursday after its electric motorcycle unit bagged a contract from an Adani Group company.

What Happened: Revolt Motors has secured a significant order from Adani Green Energy Limited (AGEL), India’s largest renewable energy company, for environment-friendly electric motorcycles, RattanIndia said in a press release.

The electric bikes will be supplied by Revolt Motors for Adani Green’s corporate fleet, aligning with Adani Green’s focus on reducing its carbon footprint. This development signals a step towards sustainable transportation solutions as both firms aim for a greener and cleaner future.

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The company in a press release said that Revolt Motors’ electric motorcycles combine high-performance capabilities with innovative technology. These motorcycles provide efficient, zero-emission transportation designed to not only reduce the carbon footprint but also offer a cost-effective commuting experience, the release added.

“We are thrilled to receive the order from Adani Green Energy Ltd,” said Anjali Rattan, business chairperson, RattanIndia.

Price Action: RattanIndia’s share price was up 4.52% at ₹8.10 in the early hours of trading on Thursday.

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Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasAdani GreenAdani Groupelectric vehiclesRattanIndia Enterprises