Exicom Tele Systems Share: Exicom Tele Systems shares saw a decline of up to 5% on Wednesday. The company’s shares reached Rs 362 in early trade today as against Tuesday’s closing price of Rs 381. There is a big reason behind this decline in shares. In fact, just a day ago, Big Bull Rakesh Jhunjhunwala’s RARE Enterprise has reduced its stake in the company.
15.85 lakh shares sold
According to the information given on the exchange, Rakesh Jhunjhunwala’s unit has sold 1.3 percent stake i.e. about 15.85 lakh shares in Exicom Tele Systems at an average price of Rs 348.60. The total value of stake sale was Rs 55.25 crore. The 52-week high price of the company’s shares is Rs 530.40 and the 52-week low price is Rs 170.25. The market cap of the company is Rs 4,446.34 crore.
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IPO came this year
Excom Tele, which operates in the electric vehicle (EV) charger market, made a stellar stock market debut in March this year. The company’s shares were listed at a premium of over 80 percent. Excom has the advantage of being a first mover in India’s EV charging sector. By FY24, the company has made tremendous progress in the market by installing more than 65,000 chargers in more than 400 cities. The company’s extensive network has made it a leader in residential chargers, with a 60 percent market share, and also has a 25 percent share in the public charger segment. Apart from this, government support for EV adoption also bodes well for Excom, which will further boost its growth prospects.
