Olectra Greentech shares gain 5% as firm bags order for electric buses worth ₹1,800 crore

“….we are pleased to inform you that, Evey Trans Private Limited (EVEY) has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC),” the company said in a regulatory filing.

The order includes the supply, operation and maintenance of 1,085 electric buses, comprising 1,025 (12-metre non-AC) buses and 60 (12-metre AC) buses for intra-city operations.

The company said that these orders are on a gross cost contract (GCC) or OPEX model basis for a period of 12 years (contract period).

Evey Trans will procure these buses from Olectra Greentech Limited, which will be delivered over a period of 20 months. “The value of the supply of these 1,085 buses would be approximately ₹1,800 Crores for Olectra. Maintenance of these buses will also be undertaken by Olectra during the contract period," the company said in the filing.

The proposed transactions would fall within related parties between Olectra and Evey Trans, will fall under the category of related party transactions and will be conducted on an arm's length basis.

Olectra Greentech share price

At 2:40 PM, Olectra Greentech shares were trading at ₹1,041.9 apiece on the National Stock Exchange, gaining 2.7%.

For a month’s time, the firm’s shares have gained more than 5%. In the last six months, the stock has tumbled 35%. On a year-on-year basis, Olectra Greentech shares have fallen over 11%.

The stock had touched its 52-week high of ₹1,714.20 on September 23, 2025, while its one-year low of ₹965.1 was hit on January 27, 2026.

The company’s market capitalisation stands at ₹8,559.38 crore.

About Olectra Greentech

Olectra Greentech Limited (OGL) is India's leading manufacturer of pure electric buses, with production facilities located in Hyderabad. It is a subsidiary of the MEIL Group. Olectra has produced and deployed all types of electric buses across the country. The company was incorporated in 1992.

Olectra Greentech Limited is primarily engaged in manufacturing composite polymer insulators and electric buses. Building on its success in the commercial electric bus sector, the company later broadened its product range to include 3-wheeler electric autos and electric trucks within the e-mobility segment.

The firm runs its business across various locations. It operates three plants and has one office in India. The company serves the electric vehicle market in nine states within India, while its insulator products are distributed pan-India. Internationally, it has a presence in one country for e-vehicles and seven countries for insulators.