In Wednesday’s intraday trading, Exicom Tele Systems’ shares were trapped in a 5% upper circuit at Rs 250.25 per on the BSE. Following the announcement on Tuesday of the signing of a Memorandum of Understanding (MoU) with Mufin Green Infra Limited, a supplier of turnkey project solutions for EV charging infrastructure, Exicom Tele Systems’ stock price jumped.
Exicom Tele-systems Limited and Mufin Green Infra Limited have signed MOU
Exicom Tele-systems Limited and Mufin Green Infra Limited have inked a Memorandum of Understanding (MOU) to take advantage of each other’s complementary strengths in order to establish charging infrastructure and build a strong supply chain for EV charging devices.
In accordance with industry standards and future-ready specifications, Exicom will produce and provide EV charging hardware under the terms of the Memorandum of Understanding in order to support the EV ecosystem. With a focus on convenience and efficiency, Exicom’s proprietary software will be installed on the hardware. In addition to offering digital solutions, Exicom will offer warranty coverage, maintenance services, and technical support.
Exicom Tele-systems Limited Stock Price
The company’s stock price was trapped in the 5% upper circuit at Rs 250.25 per share on the BSE at 9:52 AM. In contrast, the BSE’s Sensex fell 0.37 percent to a level of 77,906.89. With a wide range of products in both the AC and DC charger categories, Exicom is an Indian manufacturer of EV charging and critical power solutions that is present throughout the whole EV charger value chain.
About Exicom Tele-Systems
On May 9, 1994, the Registrar of Companies, Punjab, Himachal Pradesh, and Chandigarh, located in Jalandhar, issued a Certificate of Incorporation by which Exicom Tele-Systems Limited was incorporated as ‘Himachal Exicom Communications Limited’, a Public Limited Company. On May 11, 1994, the Registrar of Companies, Punjab, Himachal Pradesh, and Chandigarh, located in Jalandhar, issued the Company a Certificate of Commencement of Business. ‘Exicom Tele-Systems Limited’ was the new name of the company, and on August 11, 2008, the RoC issued a new Certificate of Incorporation.