Fiem Industries is a manufacturing company engaging in the production and supply of auto mechanisms. Moreover, motor parts comprise signaling equipment, automotive lighting, plastic-made parts, rear-view mirrors, and many more.
In the meantime, the company has reported its quarterly earnings. Thus, there was a decline of 57 percent in its consolidated net profit which stood at Rs.11.32 crore for the June-ended quarter. Furthermore, the company has also posted a dip of 34 percent in its consolidated net sales and stood at Rs.272.25. Consequently, the spread of Covid-19 has adversely impacted the operations of the company due to subsequent local lockdowns.
Let’s move further and throw some light on today’s agenda. Here in this article, we will be conversing about Ola Electric Vehicles and its impact on scrips of Fiem Industries.
Ola Electric Scooter is heading towards the showroom soon
Ola Electric Mobility Pvt Ltd. is ready to go with its upcoming two-wheeler electric vehicle. They are launching two models i.e. S1 and S1 Pro under the brand name Ola Electric Vehicle. Furthermore, S1 and S1 Pro carry a price tag of Rs. 99,999 and Rs.1,29,999 respectively thereby excluding subsidies determined by state and administration.
Shoppers who are likely to buy E-Scooters may book from the month of September thereby initiating a delivery from October. Moreover, in just 24 hours after the announcement, nearly 1,00,00 pre-bookings took place. However, the company admitted that the bookings are not initiated only from metro cities but also urban areas took the significant place.
Moving further, Fiem Industries has currently become a sole provider for Ola electric scooters. They are engaged in trading goods like tail lamps, headlamps, indicators, mirrors, and many more. Moreover, the company is all set to meet the demands of Ola Electric Scooter in the days ahead. However, the company visualizes an enormous potential in the two-wheeler electric vehicles sector and may capture the market.
Trendy Analysis
Fiem Industries upsurges nearly 20 percent in the early afternoon session. With strong fundamentals, the company prospects a larger growth. Precisely, the price-earning ratio is 12.54 which is good enough to invest. For long-term investors, Fiem Industries is a worthy stock to pick for.
Moreover, By the year 2025, Fiem Industries may hit the target of 2388 levels.