Olectra Greentech is buzzing a lot today; from its close of Rs.402.05, it opened today higher at Rs.430 and went up to an intraday high at Rs.462.95, up over 15%.
The stock price rose after the company said that its subsidiary, Megha Engineering and Infrastructures has got into technical partnership with Reliance for development of Hydrogen Bus.
The 12-metre low-floor bus has a customised seating capacity of between 32 to 49 seats for passengers + one driver seat. A single hydrogen fill allows the bus to travel up to 400 km. Hydrogen for this range coverage takes just about 15 minutes.
Olectra aims at commercially launching these buses within a year.