26 Jul 2024

Exicom TeleSystems Surges as Subsidiary Establishes New Entity in the Netherlands

Exicom Tele-Systems is currently trading at Rs. 445.00, an increase of 13.20 points or 3.06% from its previous close of Rs. 431.80 on the BSE.

The stock opened at Rs. 439.00 and reached a high of Rs. 452.75 and a low of Rs. 435.00. A total of 6575 shares have been traded so far.

This BSE group 'B' stock, with a face value of Rs. 10, hit a 52-week high of Rs. 530.40 on July 2, 2024, and a 52-week low of Rs. 170.25 on March 13, 2024.

Over the past week, the stock's high and low were Rs. 452.75 and Rs. 414.00, respectively. The company's current market capitalization is Rs. 5217.20 crore.

The company's shareholding includes 69.57% held by promoters, 9.49% by institutions, and 20.94% by non-institutional investors.

On July 25, 2024, Exicom TeleSystems' wholly-owned subsidiary, Exicom Power Solutions B.V., established a new wholly-owned subsidiary, Tritium NexGen Solutions B.V., in the Netherlands. This new entity has become a step-down subsidiary of Exicom TeleSystems.

Tritium NexGen Solutions B.V. will focus on manufacturing, importing, exporting, and trading in electrical equipment, including electric vehicles, charging stations, and systems, spare parts, solar systems, and batteries. It will also provide repair and maintenance services for primary and storage batteries.

Exicom Tele-Systems specializes in power systems, electric vehicle (EV) charging, and related solutions.