Olectra Greentech stock surges as company bags order for 2,400 electric buses
The stock had hit a 52-week high today at Rs 2,221.95.
6575 Views
Olectra Greentech Ltd has been awarded a contract from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supply of 2,400 electric buses.
The company’s stock ended 1.95 percent higher on the NSE, closing at Rs 2,102.95. The stock had hit a 52-week high today at Rs 2,221.95.
As per the company’s regulatory filing, the letter of award from the authority pertains to the supply, operation, and maintenance of those electric buses on a gross cost contract basis (GCC) or OPEX model basis for 12 years.
However, these buses shall be delivered over eighteen months.
According to Olectra Greentech, the value of these buses would be around ₹4,000 crore for the company.
RELATED ARTICLES
Mercedes-Benz Expands Its Network in Southern India
Sarthak Mahajan
19 Apr 2025
Mercedes-Benz India expands its presence in Bengaluru and Hyderabad with the inauguration of three new service facilitie...
Craftsman Automation Begins Commercial Operations at New Kothavadi Facility
Sarthak Mahajan
19 Apr 2025
Craftsman Automation Limited has commenced commercial operations at its newly established manufacturing facility in Koth...
Delhi EV Policy 2.0: Ban on Petrol Two-Wheelers Not Included for Now
Autocar India
18 Apr 2025
Earlier reports said that a ban on petrol-run two-wheelers was being considered for the upcoming policy.
