Olectra Greentech Ltd updates on 350 Electric Buses order

As on date Evey Trans Private Limited (EVEY) has been declared as L-1 (Least Quoted) bidder for another 350 Electric Buses from one of the State Government Undertakings.

The said tender for 350 buses is for supply of the Electric Buses on Gross Cost Contract (GCC) / OPEX model basis for a period in the range of 10-12 years (Contract Period).

Once Letter of Award is received by EVEY for 350 buses, it shall procure these Electric Buses from the Olectra Greentech Limited (Company). The value of this tender is approximately Rs. 700 Crores to the Company. The transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.

Shares of Olectra Greentech Ltd was last trading in BSE at Rs.133.75 as compared to the previous close of Rs. 133.05. The total number of shares traded during the day was 147019 in over 2959 trades.

The stock hit an intraday high of Rs. 135.8 and intraday low of 128.2. The net turnover during the day was Rs. 19510210.

Source : Equity Bulls

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