Shares of Olectra Greentech have been surging since the company launched its hydrogen bus in partnership with Reliance Industries.
What Happened: Olectra Greentech shares continued the three-session gaining streak on Monday as the stock jumped over 12% to reach an intraday high of ₹551.60. The company had registered a 19.70% jump on Friday to close at ₹481.25.
Shares of the clean energy company have shot up over 34% since the bus was launched on Feb. 23. Interestingly the company had hit its 52-week low of ₹374.35 just last week.
The company – a subsidiary of Megha Engineering and Infrastructures – hopes to put these hydrogen buses on the market within the next year.
Talking about the newly launched bus the company had informed that a single hydrogen fill allows the bus to travel up to 400 km and the fill takes about 15 minutes.
The company also said that these buses generate only water as tailpipe emissions.
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Price Action: Olectra Greentech was up 9.96% to trade at ₹529.20 in the early hours of trading on Monday.
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