Rupee strengthens against US dollar amid Trump tariff tantrums| Business News
The Indian Rupee rose against the US Dollar today, aided by sharp decline in crude oil prices and a weaker greenback due to US President Donald Trump’s tariff tantrums. The rupee opened at 90.76 against the US dollar and then strengthened further to 90.73—up 21 paise from its previous close of 90.94 on Friday. (Reuters) At the interbank foreign exchange, rupee opened at 90.76 against the US dollar and then strengthened further to 90.73 — up 21 paise from its previous close of 90.94 on Friday. A positive start for India’s stock market and an increase in forex reserves is supporting the currency, according to forex traders. “The rupee opened stronger after the US Supreme Court’s decision on tariffs caused the dollar index to fall,” Anil Kumar Bhansali, treasury head and executive director at Finrex Treasury Advisors LLP, told Press Trust of India. “Most Asian currencies have gained from their Friday close.” He, however, said dollar buying sentiment continues in the market and could weigh on the rupee. “The rupee could be sold off as the day passes with dollar-buying sentiment continuing in the market,” he said. The dollar index is was trading lower by 0.33% at 97.47, as is Brent crude—down 1.09% at $70.98 per barrel. India’s forex reserves increased $8.663 billion to hit a new all-time high of $725.727 billion in the week ended 13 February 13, according to the Reserve Bank of India.
Olectra Greentech wins â‚ą1,800-crore electric bus order from Telangana| Business News
A unit of Olectra Greentech Ltd. has won an order to supply 1,085 electric buses to Telangana, amid a push for clean mobility sweeping Indian states. The agreement with Telangana State Road Transport Corporation spans a 12-year contract period, ensuring a long-term revenue stream for Olectra Greentech. (AI Image) EVEY Trans Pvt. Ltd. has received two so-called Letters of Award worth a total of ₹1,800 crore from the Telangana State Road Transport Corporation for supply, operation and maintenance of 1,085 electric buses for intracity operations, according to an exchange filing on Monday (23 February 2026). The order includes 1,025 units of 12-metre Non-AC electric buses and 60 units of 12-metre AC electric buses. Olectra Greentech, which is the primary supplier to EVEY, has to complete the order within the next 20 months. The contract is structured under a Gross Cost Contract (GCC) or Opex model, a common framework in Indian public transport intended to reduce the upfront capital burden on state utilities. The agreement spans a 12-year contract period, ensuring a long-term revenue stream for Olectra Greentech through recurring maintenance and operational support. The transaction qualifies as a related-party transaction conducted on an “arm’s length” basis. No interest from Olectra’s promoters or group companies was reported in TGSRTC—the awarding entity.
