ट्रेंडिंग

Olectra Greentech share price may fall till Rs 1590, see what is the news

WhatsApp Group Join Now
Telegram Group Join Now

Olectra Greentech, a leading electric vehicle and clean energy company, saw its share price surge by 3.55% on September 11, 2024, closing at Rs. 1,617.55. The stock’s strong performance comes amidst a positive outlook for the company’s growth prospects in the electric bus and composite polymer insulator segments.

Key Highlights:

  • Olectra Greentech’s share price has delivered a remarkable 3-year return of 424.22%, outperforming the Nifty Midcap 100 index which returned 112.53%.
  • The company’s market capitalization stands at Rs. 12,820.19 crore, ranking it 6th in its sector.
  • Olectra Greentech’s price-to-earnings (PE) ratio is currently at 153.95, indicating strong investor confidence in the company’s future earnings potential.

Positive Outlook for Electric Bus Segment

Olectra Greentech has been at the forefront of the electric bus revolution in India. The company’s electric buses have been deployed in several states, including Telangana, Maharashtra, and Kerala. With the government’s push for clean mobility and the increasing adoption of electric vehicles, Olectra Greentech is well-positioned to capitalize on this growth opportunity.

Suzlon Energy share price may remain bullish above Rs 77.30, know what is today’s update

Expansion in Composite Polymer Insulator Business

In addition to its electric bus business, Olectra Greentech has also been expanding its composite polymer insulator segment. The company’s insulators are used in power transmission and distribution networks, both in India and overseas. With the growing demand for reliable and efficient power infrastructure, Olectra Greentech’s insulator business is expected to contribute significantly to its revenue and profitability.

Strong Financial Performance

Olectra Greentech has reported strong financial results in recent quarters. In the June 2024 quarter, the company’s standalone net sales grew by 47.65% year-on-year to Rs. 304.18 crore. The company’s focus on cost optimization and operational efficiency has also helped in improving its profitability.

Challenges and Risks

Despite the positive outlook, Olectra Greentech also faces certain challenges and risks. The company’s stock is currently trading at a high valuation, with a price-to-book ratio of 14.04. This could make the stock vulnerable to market corrections. Additionally, the company’s return on equity (ROE) has been relatively low at 7.34% over the last 3 years

Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.

Sandeep Kumar

Sandeep Kumar is an experienced Hindi and English news writer with nearly 5 years of experience in the media industry. He started his career with a digital news website chopal TV, where he worked in many sections including auto, tech and business. He loves writing and reading news related to technology, automobile and business. He has covered all these sections extensively and presented excellent reports for the readers. Sandeep Kumar has been trying to provide correct and accurate information to the readers on Local Haryana for the last 1.5 months.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button