News for OLECTRA GREENTECH LIMITED (OLECTRA.BO)

Indian markets closed higher, buoyed by positive global cues following the U.S.-Japan trade agreement, igniting hopes for progress in India-US trade talks. The Sensex climbed 0.66% to 82,726.64, and the Nifty gained 0.63% to 25,219.90. Technical analysis suggests continued bullish sentiment, with potential for further gains in the near term.

Telangana had in March 2023 placed an order with Olectra Greentech for 500 intracity and 50 intercity electric buses worth Rs 1,000 crore. These were to be delivered within 16 months.

Indian markets ended higher Thursday, with Sensex up 321 points and Nifty adding 81, as a US court ruling eased trade tension fears. Gains in IT and financial stocks supported sentiment despite weak domestic triggers and rising oil prices.

PM E-Drive: India aims to deploy 50,000 e-buses by 2027, but faces significant challenges in supply chain components and financing, highlighted by recent order cancellations in Maharashtra.

Indian indices rose as a U.S. court blocked Trump’s tariff plan, boosting financial and IT stocks. Key movers included MMTC, Welspun, ITI, Cummins India, while Olectra Greentech declined amid order rumors.

Olectra Greentech shares: Olectra Greentech, in a clarification submitted to the stock exchanges, stated that the electric bus project was awarded by the Maharashtra State Road Transport Corporation (MSRTC) to a consortium consisting of Olectra Greentech Limited and EVEY Trans Private Limited (EVEY).

Indian markets ended lower Tuesday as the Sensex fell 624 points and Nifty declined 175, dragged by profit booking in Financial and IT stocks amid weak global cues and muted FII activity. Mid- and small-cap stocks showed resilience, backed by strong Q4 results.

Olectra Greentech shares plummeted nearly 13% following reports of a cancelled electric bus order from the Maharashtra government due to procedural lapses. The contract, valued at approximately Rs 10,000 crore, involved the supply, operation, and maintenance of 5,150 electric buses. This cancellation has significantly impacted Olectra's stock performance, contributing to its year-to-date decline.

Jaiprakash Associates approves Rs 936.27 crore cash outflow; Reliance Defence partners with Rheinmetall AG; LIC sets Guinness World Record.

Nifty weekly performance: Indian markets ended the week down 0.7%, amid sharp volatility triggered by global bond market jitters. Despite midweek sell-offs, the Nifty rebounded on Friday, led by IT and FMCG stocks. Analysts say strong DII and retail support cushioned the fall. Key upcoming triggers include Indias GDP data, U.S. budget, inflation, and jobless claims.

Olectra Greentech share price: The stock settled 4.67 per cent higher at Rs 1,233.90 on Wednesday. At this closing price, it has gained 13.13 per cent in just three trading days.

The NSE Nifty index closed 86.41 points up at 23249.5

Olectra Greentech share price: The scrip traded higher than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day, 150-day and 200-day SMAs.

In the Nifty 50 index, 40 stocks were trading in the green, while 10 stocks were trading in the red.

Buzzing stocks, stocks to watch: Religare, ITD Cementation, MobiKwik, KFin Tech, ITC Hotels, Autoline Industries, OneSource, Lloyds Enterprises, HG Infra, Grasim

India Business News: Olectra Greentech Limited unveiled new electric bus models with blade battery technology, providing 30% more energy storage and enabling a range of up

In the Nifty 50 index, 34 stocks ended in the green, while 16 stocks closed in the red in today's trade.

Experts feel current market dynamics are favourable for gold, driven by several factors

Multibagger stock: Olectra Greentech shares climbed 4.33% to Rs 1717 today against the previous close of Rs 1645.30 on BSE. Olectra Greentech Ltd stock opened higher at Rs 1655.05 today.