Olectra Greentech Jumps Another 5% Today To Continue Dream Run: Why Stock Is Supercharged
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Shares of Olectra Greentech – that have surged over 15% in the last month – were up close to 4% on Monday as the company bagged a ₹1000 crore government contract.

What Happened: The EV company on Monday that its subsidiary Evey Trans Private Limited (EVEY) bagged a contract for 550 electric buses from Telangana State Road Transport Corporation (TSRTC). Olectra Greentech acquired a 34% stake in EVEY last year.

See Also: If You Invested In Bajaj Auto Shares Instead Of Buying That Pulsar Last Month, Here’s How Much You Would Have Now

The company informed the exchanges that the order is for 500 intra-city and 50 inter-city buses. The order will be worth around ₹1,000 crore for Olectra. The company will also be responsible for the maintenance of the said buses. The buses are to be delivered over a period of 16 months.

The news comes on the heels of the company announcing that it was close to getting its first order of the e-tipper.

Price Action: Olectra Greentech was up 4.39% to trade at ₹544.00 in the afternoon hours of trading on Monday.

See also: Is Olectra Greentech Share A Good Buy At Current Price?

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
electric vehiclesEVsgovernment contractsOlectra Greentech