The Exchange has sought clarification from Olectra Greentech Limited with respect to recent news item captioned Olectra Greentech tanks 14% as Maharashtra govt cancels Rs 10,000-crore e-bus order. The response from the Company is awaited.
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NSE has asked Olectra Greentech to clarify a recent news report that the Maharashtra government has cancelled an e-bus order worth around Rs 10,000 crore. Following this news, the company's stock dropped sharply by about 14% in trading. The company has not yet issued an official response, and investors are waiting to hear whether the cancellation news is accurate. This is an exchange-driven clarification request, not a company-issued statement.
The stock has already taken a 14% hit on the news. The next move depends on the company's reply — a denial could trigger a recovery, while a confirmation of the order cancellation would be a major setback given the large order value.