Greaves Cotton's shares up 50pc in 2022

The shares of Greaves Cotton have risen around 50 per cent since the start of the calendar year 2022. On Tuesday, the company's shares hit an all-time high and settled over 11 per cent higher at Rs 233The recent sharp uptick in share prices is because the company's subsidiary Greaves Electric Mobility, a leading electric two and three-wheeler manufacturer  sold over 10,000 units in December. 

Besides, the company had reportedly acquired 100 per cent stake in electric three-wheeler company, ELE (e-rickshaws), recently and completed acquisition of 26 per cent stake in another electric three-wheeler company, MLR Auto (Teja brand).  

Also, the company on January 3 launched its mega EV factory in Ranipet in Tamil Nadu. Greaves Cotton's current market capitalisation is worth Rs 5,392 crore, NSE data showed. There is a strong demand for electric vehicles as the world is rapidly shifting towards green mobility.