A-1 Ltd's Shares Soar, Fuels Electric Future Ambitions

A-1 Ltd shares surged as a Mauritius investor boosted his stake, fueling growth plans in electric vehicles. The company is considering a bonus issue and stock split, indicating strategic shifts towards clean mobility and EV sectors, amidst broader market challenges. A pivotal diversification for the Ahmedabad-based firm.

Shares of A-1 Ltd, a logistics and chemical trading company, have surged for a third consecutive day, hitting an upper circuit of Rs 1,824.95 on the BSE. A Mauritius-based investor significantly increased their stake, driving the price up 5% on Tuesday, a continuation of similar gains on Monday and Friday.

Following this investor interest, the company's market valuation now stands at Rs 2,098.69 crore. Notably, foreign investor holdings in A-1 Ltd have risen sharply from 2.94% in March to 6.03% at the end of September. Meanwhile, the broader equity market, represented by the BSE Sensex, saw a decline.

In a strategic move, A-1 Ltd announced plans for a bonus share issue and stock split, alongside a significant diversification into the electric vehicle sector. The company aims to transform its subsidiary, A-1 Sureja Industries, into a leader in EV manufacturing and clean mobility solutions, signaling a pivotal shift in its business model.

(With inputs from agencies.)