Shares of Greaves Cotton Ltd. jumped 4.41% to ₹181.76 on Friday after the company announced a strategic partnership with Bengaluru-based Chara Technologies to manufacture rare-earth-free synchronous reluctance motors and controllers. The move is aimed at supporting sustainable mobility solutions while strengthening domestic manufacturing.
As per the announcement, Greaves Cotton will manufacture Chara’s advanced motor and controller technology at its state-of-the-art facility in Shendra, Aurangabad. The synchronous reluctance motors offer a rare-earth-free alternative to conventional electric motors, making them more energy-efficient and less dependent on hard-to-source minerals.
Arup Basu, Managing Director of Greaves Cotton, said the partnership aligns with the company’s long-term vision of embracing emerging technologies to enhance supply chain resilience and accelerate India’s clean mobility transition.
The stock surged in early trade and was seen in the range of ₹179.26 to ₹188.68 for the day. With a market cap of ₹42.44 billion and average volume of 2.87 million shares, Greaves Cotton continues to draw investor interest amid growing momentum in the EV and clean-tech sector.
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