Olectra Greentech stock up 6% even as EV buses gain traction

Olectra Greentech stock rose over 6% today on positive outlook for the company as EV buses gaining traction on Indian roads.

The company has recently deployed more than 100 electric buses in India, including introduction of 40 buses in Hyderabad.

At 10.40 am, the stock was at Rs 196, up by Rs 11, or 6%, with volumes of 3,629 shares traded as compared to the 2-week average quantity of 4,629 shares.

This is the first EV company in the country to cross the milestone of having over 100 electric buses commercially plying successfully on Indian roads.

The company now has 108 electric buses deployed in Himachal Pradesh, Kerala, Telangana and Maharashtra. They are being run in Mumbai, Pune and now in Hyderabad.

With the induction of 40 electric buses of 12-meter length, Olectra has enabled Telangana State Road Transport Corporation to deploy the largest fleet of electric buses by any State Transport Utility the country.