Endurance Technologies: Endurance acquires 51% stake in Maxwell. Endurance has acquired 51% stake in Maxwell, through a combination of primary issuance and secondary purchase. In May 2022, the company had informed about execution of Share Subscription and Purchase Agreement with shareholders of Maxwell Energy Systems, for acquiring 100% stake in a phased manner. Maxwell is in the business of embedded electronics particularly in battery management systems (BMS) for vehicles including electric vehicles (EV).
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
The overall market correction makes some of the highly valued and fundamentally strong companies look attractive. One such company is Endurance Tech (CMP: Rs 1,447; M Cap: Rs 20,400 crore). Its stock price has fallen by more than 27 percent from the 52-week high in November 2021. The market correction, demand concerns in Europe, and the shortage of semiconductor chips, which led to production cuts by original equipment manufacturers (OEMs), proved to be the headwinds for both the business as well...