Open ICICI
3-in-1 Account
Manage your Savings, Demat and Trading Account conveniently at one place
Manage your Savings, Demat and Trading Account conveniently at one place
News: As per media sources, CESL has floated another tender for 4,675 electric buses worth ~Rs 5,000 crore with cumulative electric buses order till date pegged at ~16,590 buses. The tender is based on a dry lease contract allowing STUs to deploy their own bus drivers. It is primarily on behalf of STUs of Delhi, Kerala and Telangana, deploying 2400, 775 and 1500 e-buses, respectively
Views: This is the third tender in the electric mobility domain in the public passenger vehicle segment as the earlier tender was for 6,450 buses (wherein Switch Mobility, Ashok Leyland subsidiary, emerged as L1 bidder for ~2,500 buses). It contains demand for three types of ebuses – 9 metre and 12 metre AC bus & standard non-AC bus. CESL plans to run them on a monthly fee basis on a dry lease over a 10-12 year period. The likely beneficiaries of this move would be Tata Motors and Ashok Leyland in our coverage universe and PMI Electric, JBM Auto and Olectra Greentech outside our coverage universe
Impact: Positive