Olectra Greentech zooms 15%, hits all-time high on Rs 10,000-cr order win

Shares of electric-bus manufacturer Olectra Greentech raced over 15 per cent to hit a record high of Rs 1,209 per share on the BSE in Friday’s intra-day trade, after the company bagged contract worth Rs 10,000 crore from Maharashtra State Road Transport Corporation (MSRTC).

So far this calendar year (CY23), shares of Olectra has rallied over 144 per cent, as against 8 per cent rise in the S&P BSE Sensex.

On Friday, July 7, the company received a letter of intent from MSRTC to supply, operate, and maintain 5,150 electric buses, allied electrical, and civil infrastructure on gross cost contract basis. These buses will be delivered over a period of 24 months.