Olectra Greentech bags order

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⭐ Olectra Greentech bags order

Electric bus manufacturer Olectra Greentech along with Evey Trans Private Limited has bagged a new electric bus order from a state transport corporation. The order is worth ₹185 crore to supply 123 electric buses for a gross cost contract of a period of 15 years. Evey will procure the electric buses from Olectra Greentech and they will be delivered over a period of nine months.

⭐ Crompton Greaves to reduce stake via OFS

Consumer electricals maker Crompton Greaves plans to sell a 6% stake in its subsidiary Butterfly Gandhimathi Appliances via an offer for sale (OFS). The company’s management gave its nod to the sale of 10.72 lakh shares at a face value of ₹10 each from 20 to 21 September. 

⭐ Hatsun Agro plans rights issue 

Dairy company Hatsun Agro has approved a rights issue worth ₹400 crore, subject to regulatory approvals. A right issue is a corporate action whereby fresh equity shares are offered by a company to existing shareholders as on the predetermined record date.

Global markets (at 7:30 AM today)

Fact of the day

With overall market capitalisation of over ₹22 lakh crore, Adani group has become the most valued conglomerate in India, overtaking Tata Group.

Source: NDTV Profit