Olectra Greentech gains on extending cooperation agreement with BYD Auto Industry
Olectra Greentech is currently trading at Rs. 1935.80, up by 15.90 points or 0.83% from its previous closing of Rs. 1919.90 on the BSE.
The scrip opened at Rs. 1937.95 and has touched a high and low of Rs. 2012.45 and Rs. 1924.35 respectively. So far 48702 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 2222.00 on 22-Feb-2024 and a 52 week low of Rs. 619.60 on 05-May-2023.
Last one week high and low of the scrip stood at Rs. 2012.45 and Rs. 1897.00 respectively. The current market cap of the company is Rs. 15924.07 crore.
The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 7.94% and 42.05% respectively.
Olectra Greentech has extended cooperation agreement with BYD Auto Industry for manufacturing and maintaining electric buses until December 31, 2030. Both Companies had previously entered into a Co-operation Agreement and they desire to continue with this cooperation considering there is a good potential in Indian market for Electric Buses and in order to address the market requirements more competitively.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
