Olectra Greentech stocks continue gains over tie-up with Reliance to develop hydrogen bus

In the opening trade, the stock was up nearly 4 per cent to trade at Rs 500.30. The stock rose nearly 15 per cent in intraday session, to touch a high of Rs 558.6.

On Friday, Olectra Greentech closed at Rs 481.25 on BSE, ending 19.69 per cent higher.

Olectra’s stock has outperformed the domestic equities, as it has gained over 41 per cent in the last three sessions.

Olectra’s traded quantity by 3 pm at BSE stood at 1,152,936, while deliverable quantity stood at 213,985.

Olectra on Thursday said its hydrogen bus will work as a carbon-free alternative to traditional public transportation. The company’s initiative will help out the Indian government to achieve carbon-free hydrogen ambitions, a statement said.

Olectra Greentech is supposed to commercially launch these hydrogen buses within a year.

The company’s market capitalisation currently stands at Rs 4,484.07 crore.