Olectra Greentech gains 4% on electric passenger vehicle plan
Shares of Olectra Greentech gained over 4 per cent after ET reported that the smallcap company and its Chinese technical partner BYD, the world’s largest maker of electric vehicles, are in talks for a possible collaboration on the latter’s plan to venture into India’s electric passenger vehicles and vans segment.
The scrip was trading 4.36 per cent higher at Rs 205.95 at around 9.45 am, while the benchmark BSE Sensex was up 0.37 per cent at 37,282 at around the same time.
The Hyderabad-based company has also drawn up an investment plan of Rs 300 crore to set up a new manufacturing facility in the Telangana capital.
