On July 10, 2023, Olectra Greentech shares rallied 13% again to touch a new high after the business bagged an order worth Rs 10,000 crore, greater than its prevailing market capitalisation.

In the last sessions, Olectra Greentech shines 41% to a high of Rs 1394.40 on BSE. On all three days, volumes were higher than average, signalling robust bullish momentum.

Olectra Greentech acknowledged a letter of intent for the supply, operation, and upkeep of 5,150 electric buses and electric civil infrastructure from the Maharashtra State Road Transportation Corporation, mentioned in exchanges on July 7.

These 5,150 electric buses will contribute Rs 10,000 crore to Olectra Greentech’s pocket. The vehicles will be delivered over 24 months.
The company’s total revenue augmented 83% YoY to Rs 1,100 crore in FY23, while net profit raised 88% to Rs 66 crore. EBITDA margin for the business reduced by 162 bps YoY in FY23.

India’s first electric bus producer, Olectra, makes and arranges all variants of e-buses in the country.