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Share Market News: Solar and EV sector company Servotech Renewable Power System Limited with a market cap of Rs 1508.65 crore has given important information to investors in its latest exchange filing today. The company said it has formed a wholly-owned subsidiary named Servotech Foundation incorporated as a not-for-profit (Section 8) company under Section 8 of the Companies Act 2013. Servotech Foundation will function as the CSR unit of Servotech Renewable Power Systems Ltd. The authorised and paid-up share capital of Servotech Foundation is ₹100000 comprising 10000 equity shares of ₹10 each and is 100% owned by Servotech Renewable Power Systems Ltd. Also Read: Bloodbath: Share market crashes Rs 9 lakh crore lost in single day both Sensex and Nifty 50 plummet In the filing the company said that the foundation has been established with the objective of promoting and implementing CSR activities in areas such as employability education entrepreneurship sustainable development environmental protection health and nutrition. The company recently announced in a filing that it has entered the electric three-wheeler segment. This information was provided at the companys annual flagship event SUNKALP. With this move the company will further expand its clean mobility portfolio. Servotech has launched SULTAN a lithium-ion battery specifically designed for electric three-wheelers and Zest a new battery charger. This charger will help three-wheeler OEMs dealers and distributors increase charging efficiency and reduce vehicle downtime. Apart from this the company has also introduced a 2 kW on-grid solar inverter named Voltie which is designed for homes and small commercial use. The stock listed on NSE opened flat at Rs 65.85. It later touched the intraday high and low of Rs 66.60 and 63.10. Last seen the stock was trading at Rs 64.20 with a fall of 2.51 per cent and the market cap of the company stood at Rs 1447.44 crore.