Olectra Greentech hit an upper circuit of 5% at Rs 187.85 after the company said its consortium emerged as the lowest bidder for a tender floated by one of the state transport corporation. The consortium of Evey Trans (EVEY) and Olectra Greentech has been declared as least quoted (L-1) bidder for another 100 electric buses (i.e for inter-city operations) by one of the state transport corporation under FAME-II scheme of Government of India. The said tender is for supplying 100 electric buses on gross cost contract (GCC)/OPEX model basis (for inter-city operations) for a period of 12 years. Once letter of award (LoA) is received for 100 electric buses, EVEY shall procure these electric buses from Olectra Greentech, which shall be delivered over a period of 10 months. Value of this tender is approximately Rs 250 crore to the company.