Let us discuss that
olectra Greentech has formed a golden crossover at Rs 650 level.
The stock stayed there for around 2 months to consolidate.
olectra share price has given a break out at 950 level with strong volume and RSI
The olectra share will go up now with a strong tailwind from order book.
Indian electric bus manufacturer headquartered in Hyderabad, Telangana
The company founded in 2000
India's largest electric bus manufacturer with a market share of over 50%.
Manufacturing capacity of 3,5000 electric buses per year
Planning to increase this to 10,000 buses per year by 2025.
BMTC, the DTC, and KSRTC are a few major clients.
Got an order for 5,150 electric busses from the Maharashtra State Road Transportation Corporation
The order is worth of Rs 10,000 Cr more than company's market cap
Strong brand name and market leadership in the electric bus segment in India
Experienced management team with a proven track record in the electric bus industry
The total revenue increased 83 percent year-on-year (YoY) to Rs 1,100 crore in FY23.
The net profit grew 88 percent YoY to Rs 66 crore in the same period.
EBITDA ¬margins for the company reduced by 162 basis points YoY in FY23
Debt-to-equity ratio stood at 0.32 as of March 31, 2023.
Exports grew by 157.9% to Rs.127.21 crores in FY23, compared to Rs.52.02 crores in FY22.
This is a good company to invest in the Electric Vehicle boom
Fresh buying not advisable at the moment
Retail investors should wait for the correction to enter into this Olectra Share.
The stock may correct to the 1000 level by next month.
This Stock near the 1000 level is a good buy. Keep an eye on it.
Retail investors who already have invested in the stock can stay for the long term to gain good profit.
olectra greentech share is good to keep in portfolio.
Olextra Greentech Share price has the potential to double from here by 2025
Please comment if you would like to see it in different way
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