{"id":92431,"date":"2023-02-27T12:30:00","date_gmt":"2023-02-27T07:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=92431"},"modified":"2023-02-27T13:15:49","modified_gmt":"2023-02-27T07:45:49","slug":"ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries\/","title":{"rendered":"EV Stock jumps 35% in 2 trading days after partnership with Reliance industries\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4291885491\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Electric Bus manufacturer Olectra Greentech\u2019s shares appreciated to the tune of 35% from \u20b9 406.30 to 551.70 apiece in the past two days, as the company unveiled a hydrogen bus in partnership with Reliance Industries. This bus is a carbon-free alternative to traditional public transportation.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2250723393\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company\u2019s shares were trading at \u20b9 528.45 apiece, up 10.11% at 11:45 AM amid high volumes on Monday and a whopping 80,31,305 shares had changed hands by that time.&nbsp;<\/p><p>Olectra Greentech is a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL) and is a pioneer in the bus manufacturing space in India. In addition, it is India&#8217;s largest silicone rubber\/composite insulator manufacturer for power transmission and distribution networks.&nbsp;<\/p><p>Its initiative to accelerate hydrogen-powered buses will help the Indian Government to achieve its carbon-free hydrogen emissions and contribute to the nation\u2019s environmentally sustainable energy security.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-812139642\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The newly unveiled bus, with Reliance Industries as Olectra\u2019s technology partner, is a 12-metre low-floor bus with a customisable seating capacity of between 32 to 49 seats for passengers + one driver seat. It travels for\u00a0up to 400 km with a single fill of hydrogen and generates only water as tailpipe emissions. This is the main USP (Unique Selling Proposition) for phasing out old diesel and petrol systems and replacing them with these buses.\u00a0<\/p><p>The bus manufacturer\u2019s consolidated total income for the quarter that ended on December 31, 2022, came in at \u20b9 257.56, indicating an increase of 22.76% as compared to the corresponding quarter a year ago. It reported a consolidated total income of \u20b9 209.80 crores for the quarter that ended on December 31, 2021.<\/p><p>The company posted a 21.02% in its consolidated net profit at \u20b9 15.30 crores for the quarter that ended on December 31, 2022, against \u20b9 1264.33 crores reported in the corresponding quarter last year.&nbsp;<\/p><p>Olectra Greentech is a small-cap company with a market capitalization of \u20b9 3,939 crores. It has an ideal debt-to-equity ratio of 0.10, but a low return on equity of 4.66%. Its shares were trading at a price-to-earnings ratio of 69.93, which is significantly higher than the industry P\/E of 39.01, indicating that the stock might be overvalued as compared to its peers. This could also be an indication that investors are willing to pay a higher share price for the company\u2019s future earnings.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2805312090\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Electric Bus manufacturer Olectra Greentech\u2019s shares appreciated to the tune of 35% from \u20b9 406.30 to 551.70 apiece in the past two days, as the company unveiled a hydrogen bus in partnership with Reliance Industries. This bus is a carbon-free alternative to traditional public transportation.\u00a0 The company\u2019s shares were trading at \u20b9 528.45 apiece, up [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-92431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EV Stock jumps 35% in 2 trading days after partnership with Reliance industries\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The company\u2019s shares were trading at \u20b9 528.45 apiece, up 10.11% at 11:45 AM amid high volumes on Monday and a whopping 80,31,305 shares had changed hands by that time.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EV Stock jumps 35% in 2 trading days after partnership with Reliance industries\u00a0\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s shares were trading at \u20b9 528.45 apiece, up 10.11% at 11:45 AM amid high volumes on Monday and a whopping 80,31,305 shares had changed hands by that time.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-27T07:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-27T07:45:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Reliance-Logo-1-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Reliance-Logo-1-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries\/\",\"url\":\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-35-in-2-trading-days-after-partnership-with-reliance-industries\/\",\"name\":\"EV Stock jumps 35% in 2 trading days after partnership with Reliance industries\u00a0 - 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