Olectra Greentech bags order for 550 electric buses from Telangana

Olectra Greentech on Monday said it has received an order to supply of total 550 electric buses to the Telangana State Road Transport Corporation. The monetary value of these 550 buses to be supplied would be approximately Rs 1,000 crores. "EVEY shall procure these buses from Olectra Greentech Limited ("Olectra") and which shall be delivered over a period of 16 months," Olectra Greentech said in a regulatory filing. Maintenance of these buses shall also be undertaken by Olectra during the 10-12 years contract period. Shares of Olectra Greentech rise substantially after it made public about the bus deal. At the time of writing this report, the shares were up over 3 per cent at Rs 537.5. Its intraday high was Rs 550.95.

( With inputs from ANI )