 "Why this recently-listed SME stock jumped over 6% today? Details here")
CLN Energy share price:Shares of recently-listed CLN Energy were in demand in Tuesday's trading session. The electric vehicle components maker's shares gained over 6.26 per cent to touch an intra-day high of Rs 306.
The rally in CLN Energy share price came after the company reported that it has received an export order worth Rs 43 crore ($5 million) to supply Lithium-ion batteries, cabinets and other items to a Singapore-based multinational company.
"We are pleased to inform you that CLN Energy Limited has received an export order for supply of Lithium-ion Batteries, Cabinets and other related items totaling to approximately $5 million (Rs 43 crore), including tax, from a Singapore-based multinational company," the company said in an exchange filing.
Meanwhile, at 2:49 PM, CLN Energy shares were trading at Rs 304.80, higher by 5.85 per cent, on the BSE. In comparison, the 30-stock BSE Sensex was higher by 235 points, or 0.32 per cent, at 74,689.64 around the same time.
The company's shares had listed on the BSE SME section at a premium of 6 per cent, at Rs 256, against its issue price of Rs 250. The company's IPO was subscribed 5.09 times.
The company posted a revenue from operations of Rs 74.82 crore for the quarter ending September 30, 2024. Its net profit for the period stood at Rs 4.63 crore. The company is yet to declare results for the December 2024 quarter.
Moreover, the company had raised Rs 20.52 crore from anchor investors, ahead of its IPO, on January 22, 2024, by allotting 0.82 million shares at Rs 250 per share to three anchor investors.
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CLN Energy specialises in making customised lithium-ion batteries, motors, and powertrain components for electric vehicles. Their product range includes controllers, throttles, DC-DC converters, displays and differentials, among other auto components.
The company provides B2B solutions for various applications, focusing on traction applications for electric two-, three-, and four-wheelers, and stationary solutions for solar energy, energy storage systems (ESS), and telecommunications.
CLN Energy also offers tailored solutions for diverse applications, where lithium-ion battery packs are used. Their products, including lithium-ion battery packs, motors, and powertrain components, are marketed under the CLN Energy brand.