Jindal Worldwide shares jump 20% to hit upper circuit, up 66% in 2026; check what’s driving the rally

Shares of Jindal Worldwide were in high demand on Thursday, September 3, rallying as much as 19.88% to hit the upper circuit and a 52-week high of Rs 48.22 apiece on the NSE during intraday trade. Trading in the stock was halted thereafter for the day.

The northward rally in Jindal Worldwide share price followed an announcement by Jindal Mobilitric, the electric vehicle arm and subsidiary of Jindal Worldwide, outlining plans to expand its retail network to approximately 100 showrooms across India by the end of FY28.

Jindal Worldwide made the announcement after market hours on August 31. Subsequently, the stock rose 10% in the next trading session on Tuesday, before declining 4.5% on Wednesday. Since the announcement, the stock has gained 25.24%.


On a year-to-date basis, Jindal Worldwide shares have delivered a return of 66.28%, according to exchange data.

Jindal Mobilitric plans 100 showrooms by FY28

Jindal Mobilitric said it plans to open around 40 showrooms by the end of FY27, with the remaining outlets to be commissioned progressively through FY28. The company said the expansion is part of its strategy to strengthen last-mile customer experience and accelerate EV adoption nationwide.

According to the company, the phased rollout is aimed at ensuring consistent customer experience, after-sales support and disciplined capital allocation as the retail network expands.

Retail expansion already underway

Jindal Mobilitric said its manufacturing facility in Ahmedabad is fully operational and that commercial operations have already commenced.

The company has opened its first two showrooms in Srinagar and Jaipur, marking the beginning of its pan-India retail expansion.

It has also appointed 52 dealers across the country, which will support the planned showroom expansion and help expand its distribution network across urban and semi-urban markets.

Key highlights

• Ahmedabad manufacturing facility is fully operational.
• Two showrooms have been opened in Srinagar and Jaipur.
• 52 dealers have been appointed across India.
• Around 40 showrooms are targeted by the end of FY27.
• Around 100 showrooms are targeted cumulatively by the end of FY28.
• The company said it has received a strong early customer response to its EV product portfolio.

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Management commentary

“The response to our products from customers has been truly fantastic, and it reaffirms our belief that Jindal Mobilitric is building something that genuinely resonates with the Indian rider. With our production already rolled out and our first showrooms open, we are now firmly focused on scaling our retail and dealer network at pace,” said Amit Agarwal, Director, Jindal Mobilitric.

“Reaching 100 showrooms by FY28 is an ambitious goal, but one we are fully committed to and excited about. We see the next two years as a defining growth phase for the Company, and we are confident of delivering strong, sustained results for our shareholders as we build one of India’s most trusted electric mobility brands,” he added.

About Jindal Worldwide

Jindal Worldwide is a fully integrated textile fabric and shirting manufacturer and one of the world’s largest producers of denim fabric. Through Jindal Mobilitric, the group has expanded into the electric mobility space as part of its strategy of diversifying into sustainability-linked businesses.