Olectra Greentech

** Shares of India's JBM Auto JBMA.NS rise 5.65% to 706.40 rupees, Olectra Greentech OLEC.NS gains 3.38% to 1,371.20 rupees

** India approved 95.85 billion rupee ($1 billion) scheme to replace old trucks and buses in Delhi-NCR with cleaner electric vehicles

** ICICI Direct says electric bus makers like JBMA, OLEC could benefit from potential fleet upgrades by state transport undertakings; adds scheme is among India's largest vehicle replacement programmes

** JBMA also recorded 157 electric bus registrations in May, the highest in the industry, with market share rising to 49% from 33% in April

** YTD, JBMA up 13.56% and OLEC up 16.03%

($1 = 95.7200 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

** Shares of India's Olectra Greentech OLEC.NS up 6.52% to 1,257.8 rupees

** Stock set for highest pct rise since March 20

** The electric bus maker's fourth-quarter profit rises 164.4%; revenue from operations up ~44%

** Declares dividend of 4 rupees/share

** Trading volumes of ~2 million shares vs 30-day average of 750,350 shares

** YTD stock up 4.28%

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

May 19 (Reuters) - India is considering incentives exceeding $1 billion to spur private-sector adoption of electric buses and trucks, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Reuters could not immediately verify the report.

(Reporting by Carlos Méndez in Mexico City)

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** Shares of India's Ather Energy ATHR.NS jump 6.4% to 918.20 rupees, Olectra Greentech OLEC.NS rise 1.7% to 1,204.35 rupees and JBM Auto JBMA.NS rise 2.11% to 624.35 rupees

** Shares of EV companies climb after Delhi government unveiled a draft electric-vehicle policy proposing restrictions on fossil-fuel vehicles

** Proposes banning registration of new petrol two-wheelers from April 2028, new CNG three-wheelers from January 2027, as part of efforts to accelerate EV adoption

** Ather makes electric scooters, while JBM Auto, Olectra Greentech manufacture electric buses and other commercial EVs

** Two-wheelers and three-wheelers form large share of Delhi's vehicle base, key contributors to urban emissions- draft policy

** YTD, ATHR up 14.35%, OLEC down 1.23% and JBMA down 2.53%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Feb 23 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• OLECTRA GREEN - EVEY TRANS RECEIVES LOAS FOR 1,085 ELECTRIC BUSES

• OLECTRA GREEN - SUPPLY VALUE OF 1085 BUSES ABOUT 18 BILLION RUPEES

Source text: ID:nNSE85gfXB

Further company coverage: OLEC.NS

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** Shares of Olectra Greentech Ltd OLEC.NS rise as much as 6.2% to 1,274.8 rupees
** Co declares phase-1 commencement of commercial operations from Dec 31 at Greenfield electric vehicle manufacturing facility in the southern Indian state of Telangana
** Adds, facility has annual per shift production capacity of 2,500 buses
** More than 1.8 mln shares traded as of 10:51 A.M. IST, 5.5x their 30-day moving avg
** OLEC last up 4.3%; fell 17.1% in 2025

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

Jan 1 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• DECLARES DEC 31, 2025, AS COMMERCIAL OPERATION DATE FOR EV FACILITY

Source text: ID:nNSEbYtfpF

Further company coverage: OLEC.NS

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July 11 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• FURTHER ACQUIRED 17.9 MILLION SHARES IN EVEY TRANS (MAH)

• ACQUISITION COST 179.4 MILLION RUPEES

Source text: ID:nNSE5MnC3d

Further company coverage: OLEC.NS

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July 4 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• OLECTRA GREENTECH LTD - ACCEPTS RESIGNATION OF K V PRADEEP AS MANAGING DIRECTOR

• OLECTRA GREENTECH LTD - APPOINTS P V KRISHNA REDDY AS CHAIRMAN OF BOARD

Source text: ID:nBSE22YQZf

Further company coverage: OLEC.NS

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Updates

** Shares of Indian electric bus maker Olectra Greentech OLEC.NS extend fall, down 6% to 1,266 rupees

** Maharashtra state government cancels an order for 5,150 electric buses after "company responsible" failed to deliver within stipulated time - transport minister says in a social media post without naming the company

** A JV between OLEC and another co received a government order worth 100 billion rupees ($1.17 billion) to supply 5,150 electric buses in July 2023 over 2 years

** OLEC, in a statement to exchanges, says contract execution with Maharashtra state is "under process"

** Co adds it has not received any cancellation order for the contract

** Stock down 12.6% YTD

($1 = 85.2830 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

May 26 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• OLECTRA GREEN MARCH-QUARTER CONSOL NET PROFIT 210 MILLION RUPEES

• OLECTRA GREEN MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 4.49 BILLION RUPEES

• OLECTRA GREEN - DIVIDEND OF 4 RUPEES PER SHARE

Source text: ID:nnAZN3WDQDU

Further company coverage: OLEC.NS

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April 11 - ** Olectra Greentech OLEC.NS rises 4.55% to 1,139.6 rupees

** Electric bus manufacturer wins 4.2 bln-rupee ($48.8 mln) order from Himachal Pradesh state road transport corporation to supply and maintain 297 electric buses

** Buses will be delivered over 11 months

** OLEC narrows 12-month decline to 38.4%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

April 9 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• GETS CONTRACT VALUED AT 4.24 BILLION RUPEES

Source text: ID:nBSEbZPsC7

Further company coverage: OLEC.NS

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Jan 29 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• DEC-QUARTER CONSOL NET PROFIT 463.3 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 5.15 BILLION RUPEES

Source text: [ID:]

Further company coverage: OLEC.NS

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Nov 26 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• ISSUES IRREVOCABLE UNDERTAKING WITH INDEMNIFICATION IN FAVOUR OF REC, WITH EVEY TRANS

• INDEMNIFICATION FOR LOC FACILITY UP TO 25 BILLION RUPEES TO CO BY LENDER

Source text: ID:nBSE79fHXl

Further company coverage: OLEC.NS

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Oct 8 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• CLARIFIES ON REPORT CO EMERGES LOWEST BIDDER FOR SUPPLY OF 327 ELECTRIC BUSES TO H P GOVERNMENT

• HRTC YET TO DECLARE L-1 BIDDER, FURTHER DISCUSSION TO NEGOTIATIONS CANNOT START

Further company coverage: OLEC.NS

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** JBM Auto JBMA.NS up 5.5% and Olectra Greentech OLEC.NS gains 3%

** Stocks among top small-cap .NIFSMCP100 gainers

** India govt approves scheme to spend 109 bln rupees ($1.3 bln) on incentives for EV adoption

** JBMA shares up 39% YTD, while OLEC up about 23% YTD vs 27% gains in small-cap index

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Aug 19 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• CO, EVEY TRANS FURTHER ACQUIRED ADDITIONAL SHARES IN EVEY TRANS (MSR)

• COST OF ACQUISITION AT 5 MILLION RUPEES

Source text for Eikon: ID:nBSEbbk374

Further company coverage: OLEC.NS

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** Shares of Olectra Greentech OLEC.NS jumps 12.2%

** Electric bus maker reports ~33% surge in Q1 profit, while rev jumped 45%

** Stock is the top gainer on small-cap index .NIFSMCP100, which is down 0.2%

** OLEC has gained about 28% YTD, outpacing the roughly 22% gain in the small-cap index

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Aug 12 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• RE-APPOINTS VENKATESWARA PRADEEP KARUMURU AS MD

• JUNE-QUARTER CONSOL NET PAT 242.5 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.14 BILLION RUPEES

Further company coverage: OLEC.NS

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Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

** Shares of Olectra Greentech OLEC.NS fall as much as 12% to 1,591.65 rupees; last down 4%

** The electric bus manufacturer reported a 49.2% YoY fall in its March-qtr profit, revenue from operations down 23.2%

** OLEC eyes third straight weekly loss

** More than 2.2 mln shares change hands by 12:47 p.m. IST, 1.6x the 30-day avg

** Including session's move, stock is up ~29% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

April 25 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• MARCH-QUARTER CONSOL NET PROFIT 137.1 MILLION RUPEES VERSUS PROFIT 270.1 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.89 BILLION RUPEES VERSUS 3.76 BILLION RUPEES

• DIVIDEND OF 4 RUPEES PER SHARE

Source text for Eikon: ID:nBSE7lrYL3

Further company coverage: OLEC.NS

(([email protected];))

March 19 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• RECEIVED A LETTER OF AWARD

• ORDER WORTH 151.4 MILLION RUPEES

• LOA FROM ASSAM STATE TRANSPORT CORPORATION FOR SUPPLY OF 10 ELECTRIC BUSES ON OUTRIGHT BASIS

Source text for Eikon: ID:nBSE3Jhj3k

Further company coverage: OLEC.NS

(([email protected];;))

Feb 22 (Reuters) - Olectra Greentech Ltd OLEC.NS:

• GOT ORFDER FOR SUPPLY, OPERATION AND MAINTENANCE OF 2,400 ELECTRIC BUSES

• VALUE WOULD BE APPROXIMATELY 40 BILLION RUPEES

Further company coverage: OLEC.NS

(([email protected];))

** Electric bus makers Tata Motors TAMO.NS, JBM Auto JBMA.NS, Olectra Greentech OLEC.NS, and Ashok Leyland ASOK.NS rise 0.3%-5%

** Gains come after Finance Minister Nirmala Sitharaman says in her budget speech that the government will encourage EV adoption in public transport

** Govt plans to expand EV ecosystem by supporting manufacturing and charging infrastructure

** TAMO, JBMA and OLEC up between 13% and 35% YTD, while ASOK down 3.8%

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** Shares of Olectra Greentech OLEC.NS rise as much as 5.9% to 1,798.55 rupees

** Electric bus maker reported near 90% rise in consolidated net profit for the Dec-qtr; rev rose 33.4%

** Stock has been trading above its 200-day moving avg since March

** OLEC on track for a third consecutive monthly gain, if trend holds; up 30.9% for the month so far

** Stock rose 172.1% in 2023

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

** Shares of JBM Auto JBMA.NS, Olectra Greentech OLEC.NS, Tata Motors TAMO.NS and Ashok Leyland ASOK.NS rise between 0.3%-3%

** Indian government plans to set up funds with an outlay of up to 300 bln rupees ($3.61 bln) to boost electric bus mobility- CNBC-TV 18 reports

** India aims to deploy 50,000 e-buses over next 4-5 years at ~$12 bln cost

** Olectra, Tata Motors up ~3% and ~0.8% to new record highs

** Analysts' average rating on TAMO and ASOK are equivalent of "buy;" JBMA and OLEC are not yet rated - LSEG data

** Median PTs on TAMO and ASOK at 3.6% discount and ~14% premium to last close, respectively

** With YTD gains of 184%, JBMA top performer among e-bus makers; ASOK's yearly gains of 26% among smallest in Nifty Auto index .NIFTYAUTO, which is up 48%

($1 = 83.0240 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of electric bus makers Tata Motors TAMO.NS, Olectra Greentech OLEC.NS, JBM Auto JBMA.NS and Ashok Leyland ASOK.NS rise between 2% and 8.7%

** Indian govt plans to replace 800,000 diesel buses with e-buses over next 7 years - Economic Times report, citing govt sources

** Ministry of Heavy Industries, abovementioned cos did not immediately respond to Reuters' request for comment

** JBMA up 2%, ASOK – which makes e-buses via its unit Switch – jumps 4%; TAMO surges 6.5% to record high, OLEC soars 8.7%

** India currently aims to deploy 50,000 e-buses over next 4-5 yrs at ~$12 bln cost

** With YTD gains of 184%, JBMA top performer among e-bus makers; ASOK's yearly gains of 26% among smallest in Nifty Auto index .NIFTYAUTO, which is up 48%

(Reporting by Nandan Mandayam in Bengaluru)

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