Brihan Mumbai Electric deliver & Transport Undertaking (BEST) has given Olectra Greentech Ltd a contract to deliver 2,400 electric buses.
The company’s shares closed at Rs 2,102.95 on the NSE, 1.95 percent higher. Today, the stock reached a 52-week high of Rs 2,221.95.
The letter of award from the authority relates to the delivery, operation, and maintenance of those electric buses on a gross cost contract basis (GCC) or an OPEX model basis for a period of 12 years, according to the company’s regulatory filing.
These buses will, however, be supplied over a period of eighteen months.
Olectra Greentech estimates that the firm will benefit from these buses to the tune of about ₹4,000 crore.
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