Olectra Greentech zooms after its consortium gets LOI from MSRTC
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Olectra Greentech is currently trading at Rs. 1238.35, up by 195.05 points or 18.70% from its previous closing of Rs. 1043.30 on the BSE.
The scrip opened at Rs. 1045.55 and has touched a high and low of Rs. 1247.85 and Rs. 1043.60 respectively. So far 586101 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 1247.85 on 07-Jul-2023 and a 52 week low of Rs. 374.35 on 23-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1247.85 and Rs. 957.75 respectively. The current market cap of the company is Rs. 10184.99 crore.
The promoters holding in the company stood at 50.02 % while Institutions and Non-Institutions held 9.13 % and 40.86 % respectively.
Consortium of Olectra Green and Evey Trans (EVEY) has received a Letter of Intent (LOI) from Maharashtra State Road Transport Corporation (MSRTC) relating to Supply, Operation and Maintenance of 5,150 Electric Buses and allied Electrical and Civil Infrastructure on Gross Cost Contract Basis. The value of these 5,150 Buses supply would be around Rs 10,000 crore for Olectra.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
