There has been a tremendous rise in the shares of Olectra Greentech Ltd in the last few days. A slight decline was seen in this stock on the last day of the trading week i.e. last Friday. Let us tell you that on November 18, 2022, this share was priced at Rs 546.65 on Mumbai Stock Exchange (BSE). Which has currently reached close to Rs 1200. During this period, this stock has seen a tremendous profit of 120 percent. Currently this share is trading at the level of Rs 1196. In June this year, the company’s shares had reached the level of Rs 1465.
The company got a big order to make electric buses
Olectra Greentech is the country’s largest electric bus manufacturing company. The company has an order for 550 buses from Telangana State Road Transport Corporation. The company has ordered 2150 buses from BEST and has received an order for 5150 buses from Maharashtra State Corporation. According to a report, the company currently has an order for 9000 buses. Which the company will have to pay within the next 2 years.
The brokerage house believes that the company is eyeing the PM-e-Bus program. The government is going to run 10,000 electric buses under this scheme. Its tenders will open from next month. Let us tell you that the market share of Olectra Geentech in the 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.