Olectra Greentech surges 23% in one week on healthy business outlook

The company had said the strong demand continues with its net order book position of electric buses standing at 8,209 numbers after delivering 214 buses in H1.

Shares of electric vehicles (EV) manufacturer Olectra Greentech hit a new high of Rs 1,648.85, surging 7 per cent on the BSE in Wednesday’s intra-day trade. In past one week, the stock has rallied 23 per cent owing to healthy business outlook.

In past one year, the market price of Olectra has more-than-doubled or zoomed 231 per cent. In comparison, the S&P BSE Sensex gained nearly 19 per cent during the period.

The company is primarily engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.

The company’s profit after tax (PAT) nearly tripled