Interim Budget 2019 Reaction - Mr. N Nagasatyam, Executive Director - Olectra Greentech Limited

We welcome the government's vision of making India a vehicle pollution free country by 2030. Probably, for the first time Government has announced its clear commitment towards Green mobility. Till now various officials spoke individually about this but by making it a part of its 10 years vision document, Government of India has firmly shown its commitment and has put all the uncertainties away about Indian Electric Mobility Industry. Now we are looking forward for announcement of FAME-2.

At Macro-economic level bringing the Fiscal Deficit down to 3.4% in 2018-19 and maintaining Current account deficit (CAD), at 2.5% of GDP this year are encouraging. The reduction in tax liabilities of general public will help in increasing their purchasing power and we expect more people will invest in EVs to garner long term financial and environmental benefits.

Shares of Olectra Greentech Ltd was last trading in BSE at Rs.218 as compared to the previous close of Rs. 226.3. The total number of shares traded during the day was 22792 in over 518 trades.

The stock hit an intraday high of Rs. 238 and intraday low of 217.9. The net turnover during the day was Rs. 5203164.

Source : Equity Bulls

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