Olectra Greentech Bags ₹1,800 Cr Electric Bus Order

Olectra Greentech Limited's subsidiary Evey Trans Private Limited (EVEY) received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC) for supply, operation and maintenance of 1,085 Electric Buses, comprising 1,025 (12-Meter Non-AC) Buses and 60 (12-Meter AC) Buses respectively for intra-city operations.

The order includes 1,025 12-meter non-AC buses and 60 12-meter AC buses. Executed on a Gross Cost Contract (GCC)/ OPEX model for 12 years, Olectra will supply buses over 20 months and handle maintenance throughout.

The value of the supply of these 1,085 buses would be approximately Rs. 1,800 Crores for Olectra. Maintenance of these buses will also be undertaken by Olectra during the Contract Period.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 1015.40 as compared to the previous close of Rs. 1011.90. The total number of shares traded during the day was 9150 in over 879 trades.

The stock hit an intraday high of Rs. 1023.00 and intraday low of 1000.60. The net turnover during the day was Rs. 9265565.00.

Source : Equity Bulls

Keywords

OlectraGreentech INE260D01016 EveyTrans LOAs TGSRTC OrderWin