Electric bus manufacturing company Olectra Greentech has bagged yet another big order. The company has received this order from the best authority in Mumbai. After receiving the new order, the stock rocketed to a new all-time high.
During afternoon trading, the stock rose over 7 percent to Rs. A new all-time high of 2222 was reached. In the last 3 months, this stock has recorded a strong increase of 75 percent.
2400 electric buses Order From Brihan Mumbai Electric
According to information available on the BSE website, Olectra Greentech has received a fresh order from BEST i.e. Brihan Mumbai Electric Supply and Transport Undertaking. The company has received an order to supply, operate, and maintain 2400 electric buses. It will be supplied in the next 18 months. This order is Rs. 4000 crores. Earlier, the company received Rs. An order for 40 electric buses worth Rs 63 crore was received.
All Time high Rs 2221
Experience a remarkable journey with this stock! Over the past two days, it encountered a dip, but a remarkable turnaround ensued following the announcement of a significant order. Witnessing an impressive surge, the stock skyrocketed by over 7 percent intraday, hitting a remarkable all-time high of Rs. 2222. With its 52-week low at Rs. 375, this stock proves to be a true multibagger.
GRASIM Share Price Target 2024, 2025, 2026, 2027, 2030, 2035, 2040, 2045, 2050
Reflecting its robust performance, it has surged by nearly 8 percent in the past week, 15 percent in two weeks, 30 percent in one month, 57 percent year-to-date, 75 percent in three months, almost 80 percent in six months, and a staggering over 460 percent in a year. Clearly, an extraordinary surge is underway!
Olectra Greentech Order Book
‘Olectra Greentech’s order book is strong. The company is getting orders continuously. The annual capacity of the company is to manufacture 1500 buses. It has a technology tie-up with Chinese electric giant BYD which provides the battery technology. The company manufactures several types of electric buses. There are orders for 8209 e-buses and 25 e-tippers by September 2023. The government is also promoting electric buses. In such a scenario, revenue visibility is strong.
Olectra Greentech q3
The company announced strong results in Q3. According to information on BSE’s website, net profit on a consolidated basis grew by 78% year-on-year to Rs. 27.2 crore. In Q2 it was Rs. 18.58 crores. Revenue grew by 33.3% to Rs. 342.1 crore remained. In Q2 it was Rs. 307.16 crores. EBITDA with 40.6% yoy growth at Rs. 48.6 crore remained. Ebitda’s margin increased to 14.2% from 13.5%.
