Shares of Olectra Greentech Ltd. surged over 10% to hit a record high on Friday after it won an order worth Rs 10,000 crore.
As part of a consortium with Evey Trans Pvt., the electric bus manufacturer received an order for the supply, operation, and maintenance of 5,150 electric buses and allied electrical and civil infrastructure, according to an exchange filing.
The contract period has a duration of 12 years. The buses will be delivered by Evey Trans over a period of 24 months.
Shares of Olectra Greentech rose as much as 10.3% intraday, before trading 9.81% higher as of 1:18 p.m. This compares with a 0.7% fall in the NSE Nifty 50.
The average traded volume so far in the day stood at three times its monthly average. The relative strength index was at 86, indicating the stock may be overbought.
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