Olectra Greentech is one of the small stocks which has given more than 100 percent return to investors in the year 2023. The share price of the company was at the level of Rs 497 at the beginning of the year 2023. Which is now trading at the level of Rs 1196. In June this year, the company’s shares had reached the level of Rs 1465. Let us know about Olectra Greentech in details –
Company orders to make 900 electric buses
Olectra Greentech is the country’s largest electric bus manufacturing company. The company has products of every variant. The company has an order for 550 buses from Telangana State Road Transport Corporation. BEST has ordered 2150 buses. And order for 5150 buses has been received from Maharashtra State Corporation. Let us tell you, the company currently has an order for 9000 buses. Which he will have to pay within the next 12 to 24 months.
Brokerage house Geojit Financial believes that the company is eyeing the PM-e-Bus program. The government is going to run 10,000 electric buses through this scheme. Its tenders will open from next month. Let us tell you, Olectra Greentech’s market share in its segment is 27 percent. At present, due to strong book orders, according to experts keeping an eye on this stock, the price of this stock can go up to the level of Rs 1351.