Jindal Worldwide shares jump 19.88% to hit upper circuit on EV expansion plan
Jindal Mobilitric announced a target of 100 retail showrooms by FY28, driving its parent company's stock price to intraday highs.
Shares of Jindal Worldwide reached an intraday high of Rs 48.22 on Thursday, September 3, rising 19.88% to hit the upper circuit limit. Trading halted after these gains following a market announcement made on August 31 by its subsidiary, Jindal Mobilitric. The company outlined a strategy to expand its network of retail EV showrooms to approximately 100 locations across India by the end of fiscal year 2028. Phase one involves opening roughly 40 showrooms by FY27, with the remainder added progressively through FY28. Jindal Worldwide stated this expansion aims to strengthen customer experience and accelerate electric vehicle adoption nationwide while managing capital allocation discipline. Exchange data shows shares have delivered a return of 66.28% since the start of the current fiscal year. Prior to the announcement, the stock rose 10% on Tuesday, then fell 4.5% on Wednesday. The subsidiary noted that its manufacturing facility in Ahmedabad is already fully operational.
