iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Olectra Greentech secures order worth Rs500 crore for 300 Electric Buses; stock adds ~1.5%

25 Jul 2022 , 10:46 AM

Olectra Greentech Limited informed that Evey Trans Private Limited (EVEY) has secured a Letter of Award (LoA) from one of the State Transport Corporations for 300 Electric Buses under the FAME-II scheme of the Government of India.

This 12-year contract for the supply of 300 electric buses is based on a Gross Cost Contract (GCC) / OPEX model (Contract Period).

These buses will be purchased by EVEY from Olectra Greentech Limited (Olectra) and delivered over a 20-month period. During the Contract Period, Olectra will also be responsible for the maintenance of these buses.

For Olectra, the value of these 300 buses would be around Rs500 crores.

These transactions between Olectra and EVEY are to be treated as related party transactions and the company aims to conduct them at arm's length.

Olectra Greentech is a pioneer in the manufacturing of electric buses and insulators in India. Through this endeavour, OGL has contributed to the development of power transmission and distribution in India.

At around 10.42 AM, Olectra Greentech was trading at Rs654.85, up by 1.54% against previous close of Rs644.90 on NSE. So far, it touched intraday high and low of Rs664 and Rs645.10 respectively.

Related Tags

  • Olectra Greentech Acquisition
  • Olectra Greentech news
  • Olectra Greentech Shares
  • Olectra Greentech Stock
  • Olectra Greentech Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Images
28 Mar 2024   |   01:02 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.