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Jindal Worldwide shares surge to 52-week high on EV showroom plan
The company said it aims to scale its retail network to about 100 showrooms by end-FY28, with roughly 40 planned by end-FY27.
Jindal Worldwide shares jumped to their 52-week high after the stock hit the 19.98% upper circuit in Thursday’s trading, according to LiveMint Markets. The move came as the stock opened at ₹40.52 on the NSE, up from the previous close of ₹40.19, and later touched an intraday high of ₹48.22.
Trading activity also accelerated, with about 9.71 crore shares changing hands during Thursday’s session. As of September 3, the company’s market capitalization was about ₹4,832 crore.
The rally was linked to the company’s stated expansion strategy, announced in an August 31 exchange filing. Jindal Worldwide said it plans to scale its retail network to approximately 100 showrooms across India by the end of FY28, following an initial phase of about 40 showrooms by the end of FY27.
LiveMint Markets also noted the company has already started operations, including a fully operational Ahmedabad manufacturing facility and the inauguration of its first two showrooms in Srinagar and Jaipur. The firm said early customer footfall and conversion rates at both outlets were encouraging and that the showroom buildout is intended to support last-mile customer experience and after-sales for electric mobility adoption.