Olectra Greentech soars as its arm gets LoA for 2,100 Electric Buses

24 May 2022 Evaluate

Olectra Greentech is currently trading at Rs. 588.90, up by 24.35 points or 4.31% from its previous closing of Rs. 564.55 on the BSE.

The scrip opened at Rs. 592.60 and has touched a high and low of Rs. 592.75 and Rs. 584.00 respectively. So far 33199 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 4 has touched a 52 week high of Rs. 940.45 on 16-Dec-2021 and a 52 week low of Rs. 170.00 on 01-Jun-2021.

Last one week high and low of the scrip stood at Rs. 598.00 and Rs. 534.10 respectively. The current market cap of the company is Rs. 4633.87 crore.

The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 8.79% and 41.20% respectively.

Olectra Greentech’s subsidiary company -- Evey Trans (EVEY) has received Letter of Award (LoA) for 2,100 Electric Buses from one of the State Transport Undertakings. Earlier, the company had been declared as L- 1 (Least Quoted) bidder for the said order. This order for supply of the 2,100 Electric Buses is on Gross Cost Contract (GCC) / OPEX model for a period of 12 years (Contract Period).

EVEY shall procure (either directly by itself or through its Special Purpose Vehicle) these 2,100 Electric Buses from Olectra Greentech and which shall be delivered over a period of 12 months. Maintenance of these buses shall also be undertaken by Olectra during the Contract Period. The value of these 2,100 Buses supply would be approximately Rs 3,675 crore for Olectra.

Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.

Olectra Greentech Share Price

1474.00 -32.80 (-2.18%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
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Olectra Greentech 1474.00
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