Olectra, in partnership with RIL, unveils hydrogen bus; stock zooms 20%

The company said the 12-metre low-floor bus has a seating capacity of 32 to 49 seats for passengers and one driver seat with its commercial launch is expected within a year

Shares of Olectra Greentech zoomed 20 per cent to Rs 482.45 on the BSE in Friday’s intra-day trade amid heavy volumes after the company unveiled its first Hydrogen-powered bus in technical partnership with Reliance Industries.

At 12:36 PM, Olectra Greentech quoted 19.5 per cent higher at Rs 480.15, as compared to 0.25 per cent decline in the S&P BSE Sensex. The trading volumes at the counter jumped five-fold with a combined around 6 million equity shares having changed hands on the NSE and BSE till the time of writing of this report.

Olectra Greentech, a subsidiary of Megha