Indian e-bus maker Olectra surges to record high on $1.2 bln contract

Jbm Auto

07/07/2023 08:40

** Shares of Olectra Greentech Ltd  OLEC.NS  jumps 9.5% to a
record high of 1,143.90 rupees
    ** Olectra and Evey Trans gets letter of intent from
Maharashtra state transport body for 5,150 electric buses and
associated EV infrastructure
    ** Order worth ~100 bln rupees ($1.2 bln) for OLEC
    ** Over 5.4 mln shares change hands by 1:03 p.m. IST
    ** OLEC last up ~9%, taking YTD gains to nearly 130%
    ** However, rival JBM Auto  JBMA.NS  has surged 160% YTD
 
 ($1 = 82.7130 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))