Stay updated with breaking news from Megha Engineering. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
These agreements -- part of the Maharatna company's plan to position itself as the focal funding agency for energy transition -- were signed with companies in the solar, wind, green hydrogen, battery storage, and electric vehicles space as well as manufacturers of green energy equipment.
As per the contract, construction of the greenfield EV manufacturing facility will be completed within 12 months from the date of approval of the shareholders (July 19, 2023).
The share touched a 52-week high of Rs 1,465.00 and a 52-week low of Rs 374.35 on 13 July, 2023 and 23 February, 2023, respectively.
Shares of Olectra Greentech Ltd rose 3% after the electric bus manufacturer awarded a contract to Megha Engineering & Infrastructures Ltd (MEIL) for the construction of a greenfield electric vehicle manufacturing facility in Telangana. The proposed value of the contract is Rs 395.12 crore. Megha Engineering is the ultimate holding company and a related party to Olectra Greentech Limited.
Polycab India, Can Fin Homes, MCX India, Havells India and ITC were among the 90 stocks to see a long build-up based on the open interest percentage. An increase in open interest and price indicates a build-up of long positions