NEW DELHI: The consortium of Olectra Greentech Ltd and Evey Trans Pvt Ltd has received a Letter of Intent from the Maharashtra State Road Transport Corporation for the supply, operation and maintenance of 5,150 electric buses and allied electrical and civil infrastructure.
In a stock filing on Friday, Olectra Greentech said Evey will procure these buses from Olectra Greentech Ltd and the order will be delivered over a period of 24 months. It added that the value of these electric buses will be approximately Rs 10,000 crore. “Maintenance of these buses shall also be undertaken by Olectra during the contract period”, it said.
Ahead of the announcement, Olectra Greentech’s market size was below the massive order size. Reacting to the news of such a massive order, its shares rose as high as Rs 1,229, up 17.7 per cent intraday from the previous close. In the process, its market cap breached Rs 10,000 crore mark. (ANI)