Friday , September 24 2021

Olectra Greentech jumps on winning 50 EV bus order from GSRTC

Olectra Greentech is currently trading at Rs. 311.00, up by 2.20 points or 0.71% from its previous closing of Rs. 308.80 on the BSE.

The scrip opened at Rs. 310.00 and has touched a high and low of Rs. 315.00 and Rs. 302.00 respectively. So far 11798 shares were traded on the counter.

The BSE group ‘T ‘ stock of face value Rs. 4 has touched a 52 week high of Rs. 348.95 on 04-Aug-2021 and a 52 week low of Rs. 53.00 on 22-Oct-2020.

Last one week high and low of the scrip stood at Rs. 329.00 and Rs. 288.80 respectively. The current market cap of the company is Rs. 2569.13 crore.

The promoters holding in the company stood at 55.61%, while Institutions and Non-Institutions held 3.93% and 40.46% respectively.

Olectra Greentech has received the letter of award from Gujarat State Road Transport Corporation (GSRTC) for 50 No.s 9-meter electric buses. The order is for the supply of an additional 50 electric buses on a Gross Cost Contract (GCC) / OPEX model basis for a period of ten years.

These 50 electric buses shall be delivered over a period of 12 months. The company shall also undertake the maintenance of these buses during the contract period.

Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.

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