JBM Auto shares soared by 19% on Wednesday after its subsidiary, JBM Ecolife Mobility, secured a Rs 5,500-crore order under the PM eBus Sewa Scheme-II. The company will be responsible for the procurement, supply, operation, and maintenance of 1,021 electric buses in Gujarat, Maharashtra, and Haryana.
This significant order strengthens JBM Auto’s electric mobility business, aligning with the company’s Net Zero 2040 goal while expanding its order book to over 11,000 electric buses.
Key Highlights:
JBM Auto Bags Rs 5,500-Crore e-Bus Order Under PM eBus Sewa Scheme:
In a significant boost to India’s electric vehicle (EV) sector, JBM Ecolife Mobility, a subsidiary of JBM Auto Ltd., has secured a Rs 5,500-crore contract under the PM eBus Sewa Scheme-II.
According to an exchange filing, JBM Ecolife Mobility has been awarded the tender as a bus operator for:
- Procurement, supply, operation, and maintenance of 1,021 electric buses
- Development of allied electric and civil infrastructure
- Implementation under a Gross Cost Contract (GCC) model
These zero-emission buses will be deployed in Gujarat, Maharashtra, and Haryana, significantly enhancing India’s public transport electrification.
Stock Market Reaction: JBM Auto Shares Rally
Following the announcement, JBM Auto’s stock price surged to an intraday high of Rs 674, marking an 18.9% increase on the National Stock Exchange (NSE). The stock eventually closed 16.1% higher at Rs 658.10 per share.
This bullish momentum reflects strong investor confidence in JBM Auto’s expanding electric mobility business and its growing order book.
JBM Auto’s Expanding EV Order Book:
The newly secured order will be executed over the next 12 to 18 months, further strengthening JBM Auto’s presence in India’s fast-growing electric bus market.
“With this order, the company’s robust order book now stands at over 11,000 electric buses, a significant driver towards the achievement of the company’s Net Zero 2040 goal,” the company stated.
PM eBus Sewa Scheme: Accelerating India’s EV Adoption
The PM eBus Sewa Scheme is a government initiative aimed at accelerating the adoption of electric buses in Indian cities. Over its 12-year operational period, the initiative is expected to:
✅ Transport over 32 billion passengers across e-kilometers
✅ Reduce more than 1 billion tons of CO2 emissions
✅ Enhance last-mile connectivity in urban areas
With India’s commitment to sustainable public transport, JBM Auto is set to play a crucial role in the green mobility transition.
Stock Split Announcement: A Strategic Move
JBM Auto had earlier announced a 1:2 stock split, aimed at increasing liquidity and affordability for retail investors. The record date was set for January 31, further boosting investor interest.
JBM Auto Strengthens EV Leadership with Massive Order:
JBM Auto’s latest Rs 5,500-crore contract under the PM eBus Sewa Scheme marks a significant milestone in India’s EV transformation. With its expanding order book, strong stock performance, and commitment to Net Zero 2040, JBM Auto is well-positioned to lead the electric mobility revolution in India.
With JBM Auto shares surging, is this the right time to invest in India’s booming EV sector? Let us know your thoughts in the comments!
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