New Delhi, Feb. 23 -- Shares of Olectra Greentech, an electric bus manufacturer, rebounded 7.3% from today's low to reach Rs.1,053.50 apiece after the company announced a significant order win.

In an exchange filing today, the company informed investors that its associate, Evey Trans Private Limited has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC).

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

As per the agreement, Evey Trans will procure these buses from Olectra Greentech, which shall be delivered over a period of 20 months. The order for the supply and maint...