Shares of Olectra Greentech surged 540% in the last 12 months

The shareholder in the Hyderabad based Olectra Greentech has received a fair amount of profit over the last year. An investment of Rs 10,000 in the company 12 months ago, is currently Rs 67,000, which makes sure a fair amount of return for its investors.

Olectra Greentech is India’s largest electric bus manufacturer, with a market share of 40% The company is engaged in the manufacturing of electric buses under a partnership with BYD, which is also the largest electric vehicle maker in China.

KV Pradeep, the chairman of Olectra Greentech has said that the company has submitted a tender for 6,000 buses. The company also announced that it has won a bid for 50 electric buses from a government transport authority. 

Olectra is planning to go beyond electric buses and has formed a partnership with a truck maker to develop electric trucks in the future.