Olectra Shares Stage Comeback After Tough Week At Bourses

Shares of Olectra Greentech broke the three-session losing streak on Friday. The surge in the stock comes as the company had been having a tough time at the bourses.

What Happened: Shares of the e-mobility company that have slumped over 10% this week were back in green jumping close to 9% to hit Friday’s intraday high of ₹654.30. Shares of the company were marginally up at open before shooting up around 6% at around 10 pm today. While it isn't immediately clear what is driving the surge today, the company has had a great past month.

See Also: Why Sona BLW Shares Are Up A Day After Blackstone Stake Sale

The company’s shares have jumped over 50% in the past month fueled by several positive developments. The company launched a hydrogen bus with Reliance Industries, got a roadworthiness certificate for their e-tipper, and also received a ₹1000-crore government contract.

Price Action: Olectra Greentech shares were up 5.79% to trade at ₹632.55 in the early hours of trading on Friday.

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

Market News and Data brought to you by Benzinga APIs

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.

Posted In: electric vehiclesEVsHydrogen EnergyOlectra GreentechReliance Industries Ltd