Neogen Chemicals’ shares spiked nearly 7% on April 10 after reports of an impending technology transfer deal with a major Japanese conglomerate. The arrangement is said to involve manufacturing lithium electrodes for EV batteries under the government’s PLI scheme. The company is also likely to produce lithium electrodes for Ola Electric, Exide, and Amaron domestically. This development is significant as demand for lithium-ion batteries has surged due to the growing need for electric vehicles. Most EV manufacturers currently import lithium-ion batteries, making Neogen’s entry into this sector appealing to investors.