Olectra Greentech Ltd. is a leading Indian manufacturer of electric buses and commercial electric vehicles that has been making waves in the Indian transportation industry. The company has made considerable inroads into the electric vehicle market with its commitment to creating a sustainable and eco-friendly transportation system in the country.
The Olectra Greentech stock has been performing exceptionally well in the stock market with a significant surge in its value in recent years. In the last 12 months, the stock has shown impressive growth, with a 52-week high of Rs. 1472. The company’s excellent financial performance can be attributed to its focus on innovation and development of electric vehicle technology, which has gained tremendous momentum in recent years.
According to reports, Olectra Greentech has been expanding its manufacturing capacity to meet the growing demand for electric buses and other commercial electric vehicles across India and is also working to enter international markets. The company has already established partnerships with global giants like BYD Auto, which is expected to contribute significantly to Olectra Greentech’s growth and revenue generation.
Furthermore, the company has been collaborating with state governments to fulfill their ambitious electric vehicle implementation plans by providing them with eco-friendly and sustainable transportation solutions. This has not only boosted the company’s sales but also positioned it as a leading innovator in the industry.
Contents
- Olectra Greentech Limited stock started it’s bullish rally back in Dec-2020, There has been no looking back since then.
- As you can see on the above chart, olectra greentech share has had on correction after making a high of Rs. 850
- currently the stock is going through a minor correction
- There is a possibility for the price to visit 950-1000 area (unlikely, looking at the company’s growth) and the targets are massive
- The fibonacci extensions drawn on the latest impulse wave give us 2 targets for the future. First target is Rs.2100 & the second one is Rs. 2800
- There are no bearish reversal signs visible, there might be short term fluctuations, but in the long-run this stock is a gold mine.
Olectra Greentech Stock – Fundamentals
Below are the important fundamentals of the company as of July-29-2023
| P/E Ratio | 150 |
| P/B Ratio | 11 |
| P/S Ratio | 8 |
| Debt/Equity Ratio | 0.04 |
| Pledged Promoter Shares | 0% |
| Y-o-Y profit after tax | 053% |
CONCLUSION
In conclusion, the Olectra Greentech share is a highly promising investment that has a lot of potential for long-term growth. The company’s focus on innovating and creating sustainable solutions for the transportation industry puts it at the forefront of the electric vehicle revolution in India and is a key factor driving the company’s excellent financial performance. Investors looking to invest in the Indian electric vehicle industry should consider adding Olectra Greentech to their portfolios.
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DISCLAIMER: Author is not SEBI registered, This analysis is his/her own opinion. Do your own research and analysis before investing. Do not follow blindly.