Olectra Greentech Limited shares rallied up to 6.18% to ₹1,274.80 on Friday following the company's announcement of Phase-I commercial operations at its greenfield electric vehicle manufacturing facility in Hyderabad. According to latest market data from Upstox, the stock hit a high of ₹1,274.80 apiece on NSE, building on earlier gains when it had surged 5.4% to ₹1,265 with a market capitalisation of approximately ₹9,854 crore. The company successfully commenced commercial operations on December 31, 2025, meeting its previously announced timeline and marking a significant milestone in its expansion strategy. As reported by regulatory filings, the company has declared this date as the commercial operation date for the facility located at Seetharampur, Hyderabad, Telangana, and formally communicated the commencement to its lender, State Bank of India.
The Phase-I operations bring on stream an annual per-shift production capacity of 2,500 electric buses, representing 50% of the planned per-shift annual capacity of 5,000 buses once the facility reaches full operational status. According to Upstox, this Phase I capacity achievement demonstrates the company's systematic scaling approach toward maximum production levels. Over the past year, the stock has moved within a wide range, hitting a 52-week high of ₹1,714.20 and a low of ₹989.95, reflecting notable volatility. The stock has declined about 15% over the last one year, however, its longer-term trajectory remains strong, as the stock has delivered an impressive gain of around 145% over the past three years. This phased approach demonstrates Olectra Greentech's systematic scaling strategy, allowing the company to establish operational efficiency while building toward maximum capacity.
The positive sentiment extended across the electric bus manufacturing sector, with JBM Auto shares rallying as much as 7.63% to hit a high of ₹673.40 apiece on NSE during the same trading session. According to Upstox, shares of electric bus manufacturers were trading with impressive gains, reflecting investor confidence in India's expanding EV bus market. JBM Auto has been strengthening its position through strategic partnerships, including a recent joint venture pact with Portugal-based Sodecia Automotive involving plans to invest around ₹150 crore to set up a manufacturing facility in Chakan, Pune, scheduled to become operational by Q2FY27. The company has also partnered with Dubai-based Al Habtoor Motors to launch its e-buses in the UAE market, demonstrating the sector's international expansion potential.
On the valuation front, Olectra Greentech is trading at a price-to-earnings (P/E) ratio of 68.87, indicating relatively high expectations priced in by the market. According to ETMarkets.com, the stock's price-to-sales (P/S) ratio stands at 5.32, while the price-to-book (P/B) ratio is 9.35, reflecting a premium valuation compared to its underlying assets. From a technical perspective, Trendlyne data shows the stock's 14-day Relative Strength Index (RSI) at 43.4, suggesting the stock is currently in a neutral range. However, Olectra Greentech is trading below 5 out of its 8 key simple moving averages (SMAs), pointing to a mildly bearish short-term trend despite the recent surge.
On the financial performance front, the company reported strong revenue growth for the September 2025 quarter. According to ETMarkets.com, quarterly revenue rose 25.6% year-on-year to ₹661 crore, while net profit for the same period increased 4.2% YoY to ₹50 crore, indicating steady earnings growth despite margin pressures. The start of Phase-I production is expected to support current and upcoming electric bus orders while laying the foundation for further capacity expansion at the Hyderabad facility. As reported by Upstox, India's bus sector remains heavily reliant on diesel, which accounts for more than 90% of annual bus sales, presenting significant growth opportunities for electric bus manufacturers. The shift toward electric buses is gaining importance as a key enabler of sustainable transportation, with e-buses helping to reduce dependence on imported fossil fuels while curbing urban air pollution.
