Shares of Olectra Greentech Ltd extended their gains for a second straight session on Tuesday, rising 3.70 per cent to settle at Rs 1,215.05. However, despite the recent recovery, the stock remains down 18.24 per cent so far in 2025.
Meanwhile, the Maharashtra government has reinstated its order for 5,150 electric buses from Olectra, albeit with a revised delivery schedule. Under the new timeline, the company is set to deliver 620 electric buses to the Maharashtra State Road Transport Corporation (MSRTC) in 2025, 2,100 units in 2026, and the remaining 2,210 units in 2027.
A few analysts noted that while the high-risk stock appears bullish on charts, support is seen in the Rs 1,177–1,140 range.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that Olectra has recently encountered execution challenges. “The upcoming quarterly results and progress on capacity expansion will be key factors for the…
