Shares of RattanIndia Enterprises surged 16.12% in the second trading sessions from a recent closing low of Rs 42.80 hit on Monday, 6 December 2021.

Meanwhile, RattanIndia Enterprises backed Revolt Motors has announced its plans to expand its retail presence in Southern India with the opening of their new store in Coimbatore, Tamil Nadu.

This is the company's third store in the state and 18th retail outlet in the country. Revolt Motors recently opened its retail store in Madurai, Tamil Nadu apart from existing store in Chennai, Tamil Nadu.

The Tamil Nadu government is offering a state incentive to EV OEMs ranging from full reimbursement of state GST paid on vehicle sales and full exemption from motor vehicle taxes for electric vehicles.

On a consolidated basis, RattanIndia Enterprises' net loss stood at Rs 4.48 crore in Q2 FY22 as compared to a net profit of Rs 0.05 crore in Q2 FY21. Net sales stood at Rs 0.54 crore in Q2 September 2021.

RattanIndia Enterprises is the flagship company of Rattanindia Group for its new age growth businesses. The company has forayed into electric mobility space through Revolt Motors to democratize clean commute using next-gen mobility solutions. The company is completely focused on providing world class electric mobility products which are affordable and accessible to every Indian.