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Olectra Greentech inches up on acquiring additional shares in Evey Trans (MSR)

21 Aug 2024 Evaluate

Olectra Greentech is currently trading at Rs. 1595.95, up by 1.15 points or 0.07% from its previous closing of Rs. 1594.80 on the BSE.

The scrip opened at Rs. 1595.10 and has touched a high and low of Rs. 1608.90 and Rs. 1579.55 respectively. So far 46398 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 2222.00 on 22-Feb-2024 and a 52 week low of Rs. 1017.60 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 1663.00 and Rs. 1579.55 respectively. The current market cap of the company is Rs. 13100.50 crore.

The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 7.79% and 42.19% respectively.

Olectra Greentech and EVEY Trans have further acquired 5,01,717 and 5,00,00,000 additional equity shares of Rs 10 each respectively in ‘EVEY TRANS (MSR)’ which will specifically act as a Special Purpose Vehicle for executing the Contract with MSRTC. Consequent to the further allotment, company's stake in EVEY TRANS (MSR) has come down to 1% against initial 34% stake.

As of now, post-acquisition of additional 5,01,717 Equity Shares, the company holds total 5,05, 117 equity shares (including existing shares) amounting to 1% stake in EVEY Trans (MSR).

Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.

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