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Olectra Greentech Hits Life High After Winning Order Worth Rs 4,000 Crore
The electric bus manufacturer got the order for supplying, and to operate 2,400 buses to BEST in over 18 months.
22 Feb 2024, 02:09 PM IST 
Olectra Greentech Ltd., a MEIL Group company (Photo: Company's X handle)
Olectra Greentech Ltd. jumped over 7% to a record high on Thursday after it secured an order worth Rs 4,000 crore from Mumbai's Brihanmumbai Electric Supply and Transport.
The electric bus manufacturer got the order to supply, operate and maintain 2,400 buses for BEST in over 18 months, according to an exchange filing.
On NSE, Olectra Greentech rose 7.72% to Rs 2,221.95 apiece, the highest level since its listing on Mar 20, 2002. It was trading 6.36% higher at Rs 2,193.90 apiece as of 1:08 a.m. This compares to a 0.48% decline in the NSE Nifty 50 Index.
It has risen 475.05 in past 12 months. Total traded volume so far in the day stood at 2.0 times its 30-day average. The relative strength index was at 77.61.