Rattan India Enterprises on Thursday gained more than 5% after the company announced that its electric vehicle motorcycle brand Revolt Motors has won an order from Adani Green Energy Ltd for the supply of electric bikes.

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Revolt Motors, a leading electric motorcycle company, will supply environment-friendly vehicles to the corporate fleet of renewable energy company Adani Green Energy Ltd (AGEL), Rattan India said in an exchange filing.

It however did not disclose the amount of the order bagged or the number of units to be supplied to Adani Green Energy.

Rattan India said that the supply of electric bikes is aligned with the Adani group company’s strategic priority to reduce its carbon footprint.

“The motorcycles offer efficient, zero-emission transportation, designed not only to reduce the carbon footprint but also to provide an exhilarating and cost-effective commuting experience,” Rattan India said.

The deal also signifies the transition to sustainable transportation solutions and highlights the commitment of Rattan India and AGEL to a cleaner future, the filing noted.

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Revolt Motors is the electric mobility division of Rattan India Enterprises which is engaged in new-age businesses such as EVs, e-commerce, financial technology, fashion, and drones.

Revolt Motors has introduced AI-enabled electric motorcycles. The company this month announced Revolt Motors opening 52 new dealerships nationwide.

The dealerships will offer a range of services, including sales, after-sales support, genuine spare parts availability, and technical assistance.

The board of Rattan India is meeting today to consider and approve financial results for the September quarter.

Following the announcement of supply order, Rattan India shares surged more than 5% to hit a high of ₹62.75 apiece on BSE.

The stock was trading 4.34% higher at ₹ 62.25 per share on BSE at 10.11 AM.

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(Edited by : Asmita Pant)

First Published:Nov 9, 2023 11:21 AM IST