Olectra Greentech Ltd consortium receives LOA from BEST for 2400 electric buses

The consortium of Olectra Green tech Limited ("Olectra/ Company") and Evey Trans Private Limited ("EVEY") has received a Letter of Award ("LOA") from Brihan Mumbai Electric Supply & Transport Undertaking (BEST / Authority) for Supply, Operation and Maintenance of 2,400 Electric Buses on Gross Cost Contract Basis.

This order for supply of 2400 Electric Buses are to be on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period).

EVEY shall procure these buses from Olectra Greentech Limited ("Olectra") and which shall be delivered over a period of 18 months.

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

The value of these 2,400 Electric Buses supply would be approximately Rs. 4,000 Crores for Olectra.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 2062.55 as compared to the previous close of Rs. 2090.00. The total number of shares traded during the day was 126098 in over 7417 trades.

The stock hit an intraday high of Rs. 2139.00 and intraday low of 2046.65. The net turnover during the day was Rs. 263532069.00.

Source : Equity Bulls

Keywords

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