India's Olectra Greentech down after skipping govt tender for electric buses

Olectra Greentech

24/04/2023 08:53

** Shares of electric bus manufacturer Olectra Greentech
 OLEC.NS  fall as much as 2.7% to 660.40 rupees
    ** Stock on track for a second consecutive session of loss,
if trends hold
    ** Reuters reported on Friday that OLEC did not participate
in the third tender opened by government in Jan. for 4,675
electric buses
    ** Stock's moving average convergence divergence line has
been below the signal line since Mar. 24, indicating a bearish
bias
    ** More than 480,000 shares change hands by 1:04 p.m. IST vs
30-day avg of 2.1 mln shares
    ** Stock up 37.1% YTD, as of last close outperforming Nifty
500 index  .NIFTY500  which is down ~3.9%


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))