Greaves Cotton shares are skyrocketing for a second straight session on Tuesday, up a whopping 7% to ₹228.22 at the time of writing.
The powertrain manufacturer, which has a heavy presence in climate-conscious energy technologies, saw its shares rise after ace investor Vijay Kedia picked up a 0.5% stake in the company through a block deal on Monday.
Kedia bought roughly 12 Lac shares in a 25 Crore deal for the stake.
Greaves Cotton is gunning to IPO its electric vehicle subsidiary, with the board approval coming earlier this month.
The company manufactures electric two and three-wheelers through the Greaves Electric Mobility Ltd. unit, alongside selling the “Power Raja” batteries.
Graves Cotton is an amalgamation of the names of its founders James Greaves and George Cotton, who started the company when India was under British rule in 1859.
Greaves Cotton was bought by the Karam Chand Thapar and DBH Holdings of the Thapar family — led by Karan Thapar — currently owns a majority stake in the major mobility sector player.