Kabra Extrusion soars 17% as Battrixx inks pact with Hero Electric

Shares of Kabra Extrusiontechnik soared 17 per cent to Rs 482 apiece in Monday’s intra-day trade after Battrixx, a division of the company, inked partnership to develop indigenous lithium-ion batteries with Hero Electric, the largest electric two-wheeler (e2W) company in India.

Conceptualized and designed in-house with Hero’s R&D team, these batteries are equipped with advanced technology, electrifying Hero Electric’s entire e-scooter range. This partnership supports battery safety advancements, reliability, performanc, and fully supports Hero's aggressive production line-up to meet the rising e2W demand.

“This will prove to be a very strategic partnership for the development and manufacturing of advanced cell chemistry battery packs. The target is to supply 300,000 battery packs and chargers in the next financial year based on Hero Electric’s projections,” said the management.

At 12:30 pm; the stock traded 16 per cent higher at Rs 478.65, as compared to 0.84 per cent decline in the S&P BSE Sensex.

Meanwhile, in the past one month, the stock price of Kabra Extrusion zoomed 40 per cent, as compared to 3 per cent rise in the S&P BSE Sensex. Earlier, it had hit a record high of Rs 566 on January 20, 2022.

Battrixx is positioned to provide a wide range of advanced lithium-ion battery packs with smart battery management system (BMS), in order to power growth of India’s transition to green energy storage and electric transportation. Battrixx offers safe and light weight batteries which are highly efficient, charges quickly and efficient energy-wise.

Kabra Extrusiontechnik is India’s largest manufacturer of plastic extrusion machinery for more than 4 decades and recently ventured into manufacturing of lithium-ion battery packs. The company is a part of the well-known Kolsite Group.