Olectra Greentech consortium bags order for 100 Electric Buses

The Consortium of Olectra Greentech Limited (Olectra / Company) and Evey Trans Private Limited (EVEY) has received Letter of Award from one of the State Transport Corporations for 100 Electric Buses under FAME-II scheme of Government of India.

This order for supply of 100 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period). Value of this Contract is approximately Rs. 140 Crores to the Company.

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 around 1450 electric buses.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 631.30 as compared to the previous close of Rs. 613.25. The total number of shares traded during the day was 19295 in over 999 trades.

The stock hit an intraday high of Rs. 635.00 and intraday low of 618.00. The net turnover during the day was Rs. 12148467.00.

Source : Equity Bulls

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OlectraGreentechLimited INE260D01016 OrderWin ElectricBuses