This Electric Bus Stock Turns Multibagger, Generates 1117% In 1-Year: Know About It

The relentless rally that led the Nifty to scale a high of 18,600 has also with it created several multibagger stocks which are not easy to hold for retail investor category class. Nevertheless, here we will discuss one such stock that in a year's time has jumped from a price of Rs. 61.75 as on November 12, 2020, just a year back to last close at Rs. 751.9 per share on the NSE today (November 12, 2021). Note the stock price hit today is also the stock's all time high price level.

The stock has been on a continuous gaining streak for the last few days and again hit a 5% upper circuit in trade today. The recent gains are fuelled on the back of a recent Rs. 250 crore worth order for supplying 100 electric buses to a State Transport Corporation as part of the FAME-IIscheme of government of India.

Olectra Greentech share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The shares have gained 426 per cent since the beginning of this year and climbed 36 per cent in one month. The stock has climbed 13.26 per cent in a week.

Shareholding pattern in the scrip as of September ended quarter

Promoters have decreased stake to 51.74 percent in the September quarter. 24 Fii/FPI increased holding substantially to 8.65 percent during the same period.

Why such stellar gains in the stock price of Olectra Greentech?

Such stellar gains can also be attributed to the company's stellar financial performance. In the just concluded September quarter, the firm posted net sales higher both quarter on quarter and year on year at Rs. 69.06 crore.
Also, profit after tax gained from Rs.2.03 crore in the previous quarter to Rs. 3.71 crore in the quarter under review.

Rising net cash flow and cash from operating is one among the several strengths of the stock, while

About Olectra Greentech

Olectra Greentech Ltd(A Group Company of MEIL) is a public listed company. It was founded in 1992 in Hyderabad with major interests in Electric Buses, Composite Insulators, Amorphous core-distribution transformers, Data Analysis and IT consulting. OGL is an ISO-9001:2008 certified company and its R & D Center is recognized by the Department of Scientific and Industrial Research, Govt. of India. The company is the largest manufacturer and suppliers of Composite Insulators in India. Composite Insulators are well used across the globe as a significant technology breakthrough.

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