Olectra Greentech launches Hyderabad EV plant, shares jump 6%

Olectra Greentech Ltd., one of India’s leading electric bus manufacturers , saw its shares surge nearly 6 percent to Rs 1,274.80 on Friday, hitting a one-month high, after announcing the commencement of commercial operations at its new EV manufacturing facility in Hyderabad . The plant’s Phase-I has an annual per-shift capacity of 2,500 buses , representing 50 percent of its planned per-shift capacity of 5,000 buses. The announcement also boosted JBM Auto Ltd. (Jai Bharat Maruti Auto) , an Indian commercial vehicle and electric bus manufacturer, whose shares rose nearly 8 percent. Analysts say the gain reflects a market ripple effect , as investors reacted positively to developments in the EV bus sector, rather than any direct business link between the two companies.

The Hyderabad facility, located at Seetharampur, Telangana, officially began operations on December 31, 2025, and the milestone has been communicated to its lender, State Bank of India (SBI) . With this expansion, Olectra aims to strengthen its production capabilities and meet growing demand for electric buses across India. In total, the company now operates four manufacturing plants in India , all based in and around Hyderabad, including Seetharampur, Cherlapalli, Patancheru, and Jadcherla.

An Indian company, Olectra Greentech is headquartered in Hyderabad, Telangana, and was originally established in 2000 (as Goldstone Infratech). The company entered the electric bus segment in 2015 and has since emerged as a pioneer in EV mobility . Its Managing Director, Mahesh Babu Subramanian, leads the company with over three decades of experience in the automotive and EV sectors.

Olectra has partnered with both Telangana and Andhra Pradesh governments to supply electric buses to state transport undertakings. Under these agreements, it will supply around 300 e-buses to TSRTC in Telangana worth nearly Rs 500 crore, with additional orders including 550 buses across Telangana and Andhra Pradesh, covering both intracity and intercity routes. The company also has agreements and MoUs with other states, including Maharashtra, Himachal Pradesh, and Gujarat, as part of India’s push toward public transport electrification.

The company’s market performance has seen strong investor interest. Around 18.8 lakh shares of Olectra were traded on the NSE within the first two hours on Friday, compared to 62,500 shares on Thursday. Despite recent gains, the stock is still down over 16 percent in the past year. Olectra currently has a market capitalization of Rs 10,258 crore, with a P/E ratio above 71. JBM Auto, meanwhile, traded 80 lakh shares in the same period, with a market capitalization of Rs 15,753 crore and a P/E ratio of 56.

With this new facility and its strategic partnerships, Olectra Greentech is poised to expand its footprint in the electric mobility sector, particularly in Telugu states, while leveraging orders from other states to drive revenue growth and reinforce investor confidence in the fast-growing EV industry.