Olectra Greentech Ltd arm gets order from Telangana State Road Transport Corporation

Evey Trans Private Limited (EVEY) has received two Letter of Awards (LOAs) from Telangana State Road Transport Corporation (TSRTC) for 550 Electric Buses consisting of 500 Buses for Intra-city and 50 Buses for Inter-city operations, respectively.

These orders for supply of 500 Electric Buses and 50 Electric Buses are to be on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years and 10 years (Contract Period) respectively.

EVEY shall procure these buses from Olectra Greentech Limited ("Olectra") and which shall be delivered over a eriod of 16 months.

The value of these 550 Buses supply would be approximately Rs.1,000 Crores for Olectra.

Maintenance of these buses shall also be undertaken by the Olectra during the Contract Period.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 521.10 as compared to the previous close of Rs. 521.90. The total number of shares traded during the day was 51767 in over 2100 trades.

The stock hit an intraday high of Rs. 530.45 and intraday low of 505.10. The net turnover during the day was Rs. 26919548.00.

Source : Equity Bulls

Keywords

OlectraGreentech INE260D01016 EveyTrans LoA OrderWin ElectricBus TSRTC TelanganaStateRoadTransportCorporation