Olectra Shares Drop After Rs 100 Billion E-Bus Deal Cancelled

28 May 2025 CW Team

Olectra Greentech shares fell by as much as fourteen per cent to Rs 1,160 on 27th May after the Maharashtra government cancelled a Rs 100 billion electric bus contract. The Transport Minister, Pratap Sarnaik, stated the company had not delivered a single bus from the one thousand due by 22nd May.

The contract, awarded in July 2023 to a consortium of Olectra and Evey Trans Pvt Ltd, spanned twelve years and covered 5,150 electric buses. Evey was to procure the buses and deliver them to the Maharashtra State Road Transport Corporation, while Olectra would maintain the fleet.

Sarnaik made the announcement on social media following a review at MSRTC headquarters. He said the supplier had shown no progress despite a revised timeline. Though the company was not named directly, officials were directed to cancel the tender.

Olectra has not issued an official response. The news comes despite strong March quarter results, where revenue rose fifty-eight per cent, net profit doubled, and EBITDA increased by seventy per cent. Shares traded at Rs 1,266 by 9:30 AM, down six per cent.

Source: Moneycontrol

Real Estate

30 Jul 2026

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..