Olectra Greentech's new electric bus factory in Hyderabad began commercial production, sending its stock up about 6% and lifting fellow bus maker JBM Auto by nearly 8%.
Hyderabad plant goes live
On December 31, Olectra Greentech started commercial operations at its greenfield EV bus plant in Seetharampur, near Hyderabad. The first phase can make 2,500 buses a year per shift, which is half of the planned 5,000‑bus capacity.
Share price reaction
After the announcement, Olectra Greentech shares rose to ₹1,274.80, their highest level in a month. In the first two hours of trading on Friday, about 1.88 million shares changed hands, far more than the previous day.
- Shares have gained roughly 3% over the past five days.
- They are still down more than 16% over the last year.
- Market cap: about ₹10,258 crore; P/E ratio above 71.
JBM Auto gets a lift
JBM Auto, another bus manufacturer, saw its stock jump to ₹673.40, an 8% rise that ended a two‑day losing streak. Trading volume spiked to around 8 million shares in the same two‑hour window.
- Shares are up about 9% in the past five days.
- They are also down more than 16% over the past year.
- Market cap: about ₹15,753 crore; P/E ratio around 56.
What investors should note
The start of production adds tangible progress to Olectra Greentech’s growth plan and may improve future earnings. The positive market reaction shows that investors are rewarding the operational milestone. JBM Auto’s rise suggests the sector is getting a broader boost.
Disclaimer
Remember, this is just my perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.