Penny stock under ₹10 Kaiser Corporation hits upper circuit after signing this MoU. Details here

Stock Market Today: Penny stock under ₹10 , Kaiser Corporation share price gained almost 5% in the morning trades to hit upper circuit after signing this Memorandum of Understanding or MoU. Details here

Kaiser Corporation MOU details

Kaiser Corporation intimated the Bombay Stock Exchange or BSE on Monday 19 May 2025 after the market hours, about the MoU or Memorandum of Understanding its has signed by a subsidiary. Kaiser Corporation said that MOU has been Signed Between Subsidiary Xicon International Limited a subsidiary of Kaiser Corporation Limited and WardWizard Innovation and Mobility Limited

As per Kaiser Corporation MOU details in the press release on the exchanges, Kaiser Corporation said that 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".

Xicon International Limited will lease 7,500 electric scooters from WardWizard throughout FY 2025–2026 and FY 2026–2027 under the terms of the Memorandum of Understanding.

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.

Over the course of the lease, Kaiser Corporation's subsidiary is anticipated to see a steady increase in revenue of around ₹300 million ( ₹30 Crore) thanks to this strategic move.

The collaboration demonstrates the company's dedication to advancing environmentally friendly transportation and leveraging the quickly expanding EV logistics market, as per the company

Kaiser Corporation share price movement

Kaiser Corporation share price opened at ₹6.60 on the BSE on Tuesday and at the time of opening the Kaiser Corporation share price was already more than 4% higher compared to the previous days closing price of ₹6.33 .

The Kaiser Corporation share price thereafter gained further to intraday highs of ₹6.64. which marked rise of close to 5% . Notably the upper price band for the Kaiser Corporation share price also stood at ₹6.64 and hence Kaiser Corporation share price was locked in the upper circuit

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