Shares of Olectra Greentech, an electric bus manufacturer, rose nearly 7% in intraday trade on Tuesday, October 8, to ₹1663.45 apiece, breaking a three-day losing streak. This sharp reversal in shares came after the company emerged as the lowest bidder for a contract to supply 327 electric buses to the Himachal Road Transport Corporation (HRTC), ANI reported.
In an effort to boost green mobility in Himachal Pradesh, HRTC had issued a bid for 327 electric buses (297 of 9 meters and 30 of 12 meters) for outright purchase. After the tendering process and technical evaluation, Olectra and Switch Mobility met the qualifications, with Olectra offering the lowest bid. HRTC is now expected to finalise the order soon, according to the report.
Meanwhile, the stock exchange, BSE has sought clarification from the company over the report.
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