Olectra Greentech shares jump over 2% on THIS development

The order includes 500 buses for intra-city and 50 buses for inter-city operations. “As per the contractual terms, these buses were required to be procured from Olectra Greentech Limited (‘Olectra/Company”) and were additionally responsible for the maintenance of these buses,” the company said in a statement to the exchanges.

“Out of the orders, in respect of a lot of 50 buses for intercity operations, TSRTC has reduced the order to 10 buses which have already been delivered, and in respect of the balance of 40 buses, the order has been withdrawn by TSRTC,” it further said.

Last seen, shares of Olectra were trading at ₹1,242.50 apiece on the National Stock Exchange, rising 1.05%.

Meanwhile, investors also gathered confidence for the stock after the Maharashtra government decided to reinstate its order of 5,150 electric buses from Olectra Greentech.

During a meeting between the company’s officials and Maharashtra’s Transport Minister Pratap Sarnaik on Friday, the state decided to go ahead with the earlier plan but under new orders.

“The buses have to be delivered as per the new schedule to ensure that passengers receive the facilities promised. We had earlier decided to terminate the contract since the consortium failed to supply the electric buses on time,” Sarnaik had said.

Earlier, the minister had raised serious concerns about the company’s capacity to fulfil the rest of the contract and emphasised the urgent need for new buses.

For the January to March quarter, Olectra’s revenue increased 58% year-on-year (YoY), while its net profit doubled. EBITDA grew 70%, and margins improved by 100 basis points.

Over the last five trading days, Olectra shares have lost over 2%, while for a month’s period, the stock gained almost 9%.

Since December 2, 2024, which is six months, shares of the firm have climbed 20.6%.

The company’s market capitalisation stands at ₹10,198.53 crore.

Shares of the firm had touched its one-year high of ₹1,960 apiece on July 9, 2024, while its 52-week low of ₹989.95 was hit on April 7, 2025.