Olectra Greentech bags ₹1,000-crore order for supply of 550 electric buses.

Shares of Olectra Greentech was up 4 per cent at ₹540 in early trade recently as the company bagged ₹1,000-crore order from EVEY Trans for supply of 550 electric buses.

EVEY Trans, in turn, has bagged the orders from Telangana State Road Transport Corporation.

The company will procure the buses from Olectra Greentech and will be delivered over 16-months.

Of the overall purchase, 500 buses will be operated intra-city and 50 buses will ply inter-city. The two contracts will be on Gross Cost Contract and operational expenses model basis for 12 years and 10 years, respectively.

Maintenance of these buses will also be undertaken by the Olectra during the contract period.

HBL