Are investors changing their views about this stock?

Shares of Olectra Greentech Ltd, rebounded from its 52-week low of Rs 457.10 and were locked in 10 per cent upper circuit in Thursday’s trading session.

Shares of Olectra Greentech Ltd, rebounded from its 52-week low of Rs 457.10 and were locked in 10 per cent upper circuit in Thursday’s trading session. The shares of the company are witnessing heavy buying pressure as spurt in volume was 17.11 times, indicating interest of investors. However, the stock is down 11 per cent in one month and 39 per cent on YTD basis.  

Olectra Greentech Ltd, was established in 1992 and is a leading manufacturer of electric buses in India. The company’s shares are witnessing buying because of positive results and the global shift towards green energy. It has reported robust financial for quarter ended September 2022, as sales jumped by 148 per cent, net profit by 106 per and operating performance by 38 per cent. Three years compounded growth of sales stands at 52 per cent, profit at 62 per cent and stock price at 38 per cent. Changes in shareholding pattern are seen as the FIIs have increased their stake in the company continuously in the past 3 years and currently stand at 10.41 per cent.  

Speculators and Investors with high-risk appetite can keep this stock on watchlist.