Olectra Green tech Ltd and Evey Trans Pvt Ltd receives LOT from MSRTC for 5150 electric buses

The consortium of Olectra Green tech Limited ("Olectra/ Company") and Evey Trans Private Limited ("EVEY") has received a Letter of Intent ("LOI") from Maharashtra State Road Transport Corporation (MSRTC) relating to Supply, Operation and Maintenance of 5,150 Electric Buses and allied Electrical and Civil Infrastructure on Gross Cost Contract Basis.

This order for supply of 5,150 Electric Buses are to be on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period) respectively.

EVEY shall procure these buses from Olectra Greentech Limited ("Olectra") and which shall be delivered over a period of 24 months.

Value of these 5, 150 Electric Buses supply would be approximately Rs. 10,000 Crores for Olectra.

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

The value of these 5,150 Buses supply would be approximately Rs. 10,000 Crores for Olectra.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 1043.30 as compared to the previous close of Rs. 988.15. The total number of shares traded during the day was 232748 in over 10053 trades.

The stock hit an intraday high of Rs. 1076.65 and intraday low of 986.00. The net turnover during the day was Rs. 243658697.00.

Source : Equity Bulls

Keywords

OlectraGreentech INE260D01016 EveyTrans OrderWin MSRTC 5150ElectricBus