Olectra Greentech shares jump 4% on ₹1,800 crore Telangana e-bus order
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CNBC TV18•23-02-2026, 14:19
Olectra Greentech shares jump 4% on ₹1,800 crore Telangana e-bus order
•Olectra Greentech's shares surged over 4% after its associate, Evey Trans Private Limited (EVEY), secured two Letters of Award from Telangana State Road Transport Corporation (TGSRTC).
•The order is for the supply, operation, and maintenance of 1,085 electric buses, valued at approximately ₹1,800 crore for Olectra.
•The contract includes 1,025 12-meter non-AC buses and 60 12-meter AC buses for intra-city operations, to be delivered over 20 months.
•The 12-year contract will be executed under a Gross Cost Contract (GCC) or OPEX model, with Olectra also responsible for bus maintenance.
•This transaction between Olectra and EVEY is a related party transaction, conducted on an arm’s length basis.
