Olectra Greentech Ltd witnessed a significant surge in its stock price, climbing 8.80% in a single trading session to hit a day high of Rs 1,891.85. The company's stock was seen trading 6.45% higher at Rs 1,851. Olectra's robust performance has been attributed to its strong order book and strategic expansion initiatives. Geojit, a domestic brokerage, issued a 'Buy' call on the stock with a 12-month target price of Rs 2,086. The company reported a 47.48% gain in the last six months. Olectra Greentech secured major orders for electric buses from key State Transport Undertakings in India, including TSTRC, BEST, and MSRTC, solidifying its position in the electric mobility sector. Furthermore, the company's joint venture with BYD China and partnership with Reliance Industries Ltd on the Hydrogen Bus project demonstrate its commitment to innovation and market diversification. Geojit highlighted Olectra's expansion into the e-mobility segment for 3-wheeler electric autos and electric truck tippers, anticipating a surge in demand for electric tippers in the future. The technical collaboration with RIL on the Hydrogen Bus project is expected to introduce advanced transportation solutions to the Indian market. With a strong order pipeline and plans for capacity expansion, Olectra's growth trajectory looks promising. Geojit's upgrade from 'Accumulate' to 'Buy' reflects confidence in the company's potential and strategic direction. Olectra Greentech Ltd, a subsidiary of Megha Engineering and Infrastructures Ltd, is a key player in the electric vehicle and renewable energy sectors in India.