Olectra Greentech Q2 profit up 6.8%, stock tests Rs 1,100

Olectra Greentech Q2 profit rose 6.8% to Rs 52.9 crore; the stock closed at Rs 1,079.5, just below channel resistance near Rs 1,100. Olectra Greentech Limited closed at Rs 1,079.5 on 9 November 2026, up 2.03%, just below a falling trendline. OLECTRA opens on 11 November with fresh Q2 numbers to price in. Consolidated profit for the quarter rose 6.8% to Rs 52.9 crore from Rs 49.5 crore a year ago. Revenue grew 4.6% to Rs 687 crore from Rs 656.6 crore. EBITDA rose 18% to Rs 109.89 crore. Results came on 10 November, a holiday, so 11 November is the first reaction session. Profit growth is modest, but EBITDA growing faster than revenue points to firm margins. Deliveries stood at 401 electric vehicles in the quarter. On the daily chart, the stock fell inside a descending channel from the July high near Rs 1,550 and bounced from the lower band near Rs 940. The 9 November high of Rs 1,098.6 stopped at the upper band. RSI at 54.6 is above 50 and above its average of 37.2. A daily close above Rs 1,100 would break the channel. Failure there keeps Rs 1,000 and Rs 940 in focus as support. Stance: positive above Rs 1,100, neutral below it. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.