A-1 share price hit a 20% upper circuit on Monday after the company announced a major diversification into the electric vehicle (EV) sector, marking a strategic shift from chemicals to clean mobility.
The smallcap stock was locked at 20% upper circuit and its 52-week high ₹1,263.70 apiece on the BSE.
A-1 Ltd on Monday announced that its board of directors decided to increase its existing partnership interest or shareholding in A-1 Sureja Industries, a firm engaged in the manufacturing of battery-operated electric two-wheelers (EVs), from 45% to 51% subject to completion of all regulatory and statutory formalities.
The company had already acquired a 45% partnership stake in A-1 Sureja Industries, and now further acquired 6% which makes it a total stake of 51%.
“This move makes A-1 Limited one of India’s first listed chemical companies to directly hold equity in a certified EV manufacturing enterprise,” the company said in a release on October 27.
Headquartered in Ahmedabad, A-1 Sureja Industries is driving scalable electric two-wheeler manufacturing, having approx. value of ₹100 crore as on date. The company is now poised for rapid expansion with a projected CAGR of over 250%, transitioning from the R&D stage to commercial rollout, it added.
“By 2028, A-1 Limited aims to evolve into a multi-vertical green enterprise, integrating low-emission chemical operations with clean mobility solutions. The company’s transformation positions it as a future-ready mid-cap ESG leader with diversified revenue streams, scalable manufacturing capabilities, and rising institutional interest,” said Anant Patel (Director, A-1 Limited.
A-1 Sureja Industries has a patent in its name for exclusive design till the year 2028.
A-1 Share Price Performance
A-1 share price has gained 36% in one month and has jumped 94% in three months. The smallcap stock has surged 142% in six months and has delivered multibagger returns of 214% on a year-to-date (YTD) basis. Over the past five years, A-1 share price has jumped by a staggering 2,135%.
At 1:40 PM, A-1 share price was still locked-in at 20% upper circuit of ₹1,263.70 apiece on the BSE.