Olectra Greentech and EVEY receive LOA for 50 electric buses

Out of the tenders where Olectra Greentech Limited ("Olectra / Company") and Evey Trans Private Limited (EVEY) were declared as least quoted (L-1) bidders for 353 Buses, for 50 Electric Buses Olectra has received Letter of Award from one of the State Transport Authorities under FAME-II scheme of Government of India.

This order for supply of 50 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 10 years (Contract Period).

These Buses shall be delivered over a period of 12 months. The maintenance of these buses shall also be undertaken by the Olectra during the Contract Period.

With these, total order book of Olectra for electric buses against above and earlier orders are over 1300 electric buses.

Shares of Olectra Greentech Ltd was last trading in BSE at Rs.219.75 as compared to the previous close of Rs. 216.2. The total number of shares traded during the day was 22866 in over 478 trades.

The stock hit an intraday high of Rs. 224 and intraday low of 218. The net turnover during the day was Rs. 5041504.

Source : Equity Bulls

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