Multibagger stock Olectra Greentech bags new order; details inside
In the past year, the company’s shares have yielded whooping multibagger returns of 446.81% and today it has hit a fresh 52-week high.
About the Order
Olectra Greentech Ltd which is primarily engaged in the manufacturing of composite polymer insulators and electrical buses have today reported that the Consortium of Olectra Green Tech Limited and Evey Trans Private Limited (EVEY) has received a Letter of Award from Brihan Mumbai Electric Supply & Transport Undertaking for Supply, Operation and Maintenance of 2,400 Electric Buses.
This order for the supply of 2400 electric buses is to be on a Gross Cost Contract (GCC)/OPEX model basis for a contract period of 12 years. EVEY shall procure these buses from Olectra Greentech which shall be delivered over 18 months. Maintenance of these buses shall also be undertaken by Olectra Greentech during the contract period. The value of these 2,400 electric buses supply would be approximately Rs 4,000 crore for Olectra Greentech.
Stock Performance
In the last trading session, the stock closed at Rs 2062.55. Today it opened at Rs 2076.35 and closed at 2103.85, up by 2.00%. Today, shares of the company hit a fresh 52-week high at Rs 2,222, while its 52-week low stands at Rs 374.35. Currently, the company boasts a market capitalisation of approximately Rs 17,300 crore. In the past six months shares of the company have given staggering returns of 72.7%. In the past year, the company’s shares have yielded a whooping multibagger return of 446.81% and in the same timeframe BSE Consumer Discretionary has changed by 54.81%.
About the Company
Olectra Greentech Limited formerly known as Goldstone Infratech Limited was founded in 1992 in Hyderabad with major interests in Electric Buses, Composite Insulators, Amorphous core-distribution transformers, Data Analysis and IT consulting. Currently, the company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. It is the largest manufacturer and supplier of Composite Insulators in India. Composite Insulators are well used across the globe as a significant technology breakthrough.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.