New Delhi, Oct. 27 -- A-1 share price hit a 20% upper circuit on Monday after the company announced a major diversification into the electric vehicle (EV) sector, marking a strategic shift from chemicals to clean mobility. The smallcap stock was locked at 20% upper circuit and its 52-week high Rs.1,263.70 apiece on the BSE.

A-1 Ltd on Monday announced that its board of directors decided to increase its existing partnership interest or shareholding in A-1 Sureja Industries, a firm engaged in the manufacturing of battery-operated electric two-wheelers (EVs), from 45% to 51% subject to completion of all regulatory and statutory formalities.

The company had already acquired a 45% partnership stake in A-1 Sureja Industries, and now further a...