Olectra Greentech Shares Surge Sharply — Here's Why

Shares of Olectra Greentech experienced a significant increase following a major order secured by its subsidiary, Evey Trans. The company received a contract worth Rs 1,800 crore from the Telangana State Road Transport Corporation (TSRTC) to supply and operate 1,085 electric buses over a 12-year period under a Gross Cost Contract/Operational Expenditure (GCC/OPEX) model. This move aligns with the Indian government's push for electric mobility and sustainable transport solutions, reflecting an increasing focus on reducing carbon emissions and promoting eco-friendly public transport. The order is expected to enhance Olectra's market position in the rapidly growing electric vehicle sector and showcases the company's competency in meeting large-scale infrastructure needs. As urban areas in India continue to grapple with pollution and traffic congestion, such initiatives are crucial for fostering a cleaner environment and advancing the nation's green energy objectives.