India’s Planned $10-Billion Electric Bus Tender Boosts Tata Motors To Exide

Shares of electric vehicle and ancillary companies surged after India said it will float multi-billion dollar tender for building electric buses.Mahua Acharya, managing director of Convergence Energy Services—a joint venture of four state-run energy companies—told Bloomberg TV that it will float tenders worth $10 billion (about Rs 79,965 crore) for manufacturing 50,000 electric buses.That led to a 1.5-4% gain in the shares of Tata Mo…