EVEY receives LOA for 100 Electric Buses

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.

EVEY shall procure these buses from Olectra Greentech Limited ("Olectra / Company") and which shall be delivered over a period of 12 months. Maintenance of these buses shall also be undertaken by the Olectra during the Contract Period. These transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.

With these, total order book of Olectra for electric buses against above and earlier orders are around 1,530 electric buses after considering the deliveries already made.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 816.45 as compared to the previous close of Rs. 800.95. The total number of shares traded during the day was 33830 in over 1340 trades.

The stock hit an intraday high of Rs. 834.50 and intraday low of 761.50. The net turnover during the day was Rs. 27049769.00.

Source : Equity Bulls

Keywords

OlectraGreentechLimited INE260D01016 OLECTRA ElectricBus LoA EveyTrans