Earlier, the company had entered into a joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC) to boost EV technology in India and grow into new high-growth markets.
Shares of auto components and equipment manufacturer Pavna Industries zoomed 15 per cent on Tuesday, September 23, 2025 as auto stocks surged after automakers saw bumper sales on the first day of Navratri under the new GST regime. New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Auto stock surged amid a sharp spike in bookings for automobiles. Meanwhile, the Nifty Auto index surged over 2 per cent.
The stock opened with a gap down with a loss of 4.22 per cent at Rs 35.40 on the BSE against the previous close of Rs 36.96. However, it rebounded amid firm buying and touched an intraday high of Rs 42.50, gaining around 15 per cent from its last close.
Last seen, the stock was trading at Rs 40.80 with a gain of 10.39 per cent. The market cap of the company stood at Rs 569.28 crore.
The action in the stock comes after two consecutive days of decline. Technically, the stock trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages.
Signs JV to boost EV tech in India
Earlier, the company had entered into a joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC) to boost EV technology in India and grow into new high-growth markets.
Pavna Industries will hold 80 per cent equity in the JV, while SMC will have a 20 per cent stake.
Under the agreement, Pavna will bring its operational, manufacturing, and procurement expertise, and its deep understanding of the Indian automotive market, to oversee and manage the JV’s operations, the company said in a statement issued here.
“Pavna Industries has entered into a joint venture agreement with SmartChip Microelectronic Corporation (SMC), which will offer to undertake and carry on the business of inter alia making electronic components for the automobile industry (ICE and EV) and for other industries like hardware for cupboard/door locks etc.
in residential/ commercial industries, and medical, among others,” the company said.
With PTI inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
