JBM Auto shares experienced a notable decline of 4.3% during today’s trading session, hitting an intraday low of ₹618.60 on the Bombay Stock Exchange (BSE). The drop came amid a surge in trading volumes, indicating heightened market activity around the stock. The decline followed a strong rally in the previous session, suggesting that investors may have capitalized on the recent price surge by booking profits. The increased selling pressure led to a sharp dip in the stock’s value, reflecting a shift in market sentiment after the recent gains.
JBM Auto shares saw a strong upward movement on Wednesday, closing the trading session with an impressive 14% gain on the Bombay Stock Exchange (BSE). The surge in the stock price came after the company announced a significant business development earlier in the day.
JBM Auto revealed that it had secured a major contract for the comprehensive execution of 1,021 electric buses, along with the development of necessary electric and civil infrastructure. This project will be carried out under the Gross Cost Contracting (GCC) model as part of the government’s PM-eBus Sewa Scheme (Tender-II). The contract win underscores the company’s growing presence in the electric mobility sector, reflecting its role in supporting sustainable public transportation initiatives.
The recently awarded tender to JBM Auto is estimated to be worth approximately ₹5,500 crore, marking a significant milestone for the company. Under this project, a total of 1,021 electric buses will be deployed across nearly 19 cities, spanning the states of Gujarat, Maharashtra, and Haryana.
The initiative is expected to play a crucial role in enhancing sustainable public transportation infrastructure in these regions. According to the company, the execution of the project, which includes both the deployment of electric buses and the development of the necessary supporting infrastructure, is expected to be completed within a tentative timeline of 12 to 18 months.
JBM Auto has also highlighted that the execution of this large-scale electric bus project will be backed by a Payment Security Mechanism (PSM). This mechanism is designed to ensure timely payments to electric bus operators, thereby improving financial stability and sustainability for all stakeholders involved in the project. By implementing PSM, the company aims to create a more reliable and secure financial framework, reducing risks associated with delayed payments and supporting the long-term viability of the electric mobility sector.
In its regulatory filing, JBM Auto reaffirmed its commitment to driving India’s e-mobility revolution. The company stated that securing this prestigious tender under the PM-eBus Sewa Scheme (Tender-II) further strengthens its robust order book while aligning with the Hon’ble Prime Minister’s vision of expanding electric bus deployment at the grassroots level across the country.
JBM Auto also emphasized the long-term environmental and social impact of the project. Over the course of 12 years, these electric buses are expected to cover a cumulative distance of more than 32 billion passenger kilometers. Additionally, the initiative is projected to result in a substantial reduction of carbon emissions, with an estimated savings of over 1 billion metric tons of CO2. This move is seen as a significant step towards promoting sustainable urban transportation while contributing to India’s broader environmental goals.
With the addition of this latest order, JBM Auto has reported that its total order book has now surpassed 11,000 electric buses, all of which are currently at different stages of execution. This substantial pipeline of projects reinforces the company’s growing presence in the electric mobility sector and highlights its ability to secure large-scale contracts.
The company emphasized that this expanding order book serves as a key driver in its long-term sustainability strategy. Specifically, the deployment of these electric buses aligns with JBM Auto’s broader commitment to achieving its Net Zero 2040 goal. By steadily increasing the adoption of clean-energy public transportation solutions, the company aims to contribute significantly to reducing carbon emissions and promoting environmentally responsible urban mobility in India.