Olectra Greentech Limited has informed the Exchange about Bagging/Receiving of orders/contracts
OLECTRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts more than Nifty Smallcap 250 and 2.4 pts more than its Passenger Cars & Utility Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Olectra Greentech's subsidiary Evey Trans (EVEY) has received two Letters of Award from Telangana State Road Transport Corporation (TGSRTC) for 1,085 electric buses (1,025 non-AC 12-metre and 60 AC 12-metre) for intra-city operations. Olectra will supply these buses to EVEY for approximately Rs. 1,800 Crores, with deliveries spread over 20 months. The buses will operate on a Gross Cost Contract (OPEX) model for 12 years, during which Olectra will also handle maintenance. The transaction between Olectra and EVEY qualifies as a related party transaction, conducted at arm's length.
This is a sizeable order worth ~Rs. 1,800 Crores that strengthens Olectra's order book and provides multi-year revenue visibility through both bus supply and 12-year maintenance contracts. Positive for the stock, though execution over 20 months and dependence on related-party subsidiary EVEY are key factors to watch.