2 EV stocks jump 10% after Govt likely to launch tender for 10,000 E-buses under PM E-Drive Scheme2 EV stocks jump 10% after Govt likely to launch tender for 10,000 E-buses under PM E-Drive Scheme

Shares of electric bus manufacturers, JBM Auto Ltd. and Olectra Greentech Ltd., are gaining attention as the government plans to issue a tender for 10,000 electric buses under the PM E-Drive scheme next month.

CESL (Convergence Energy Services Ltd.) will issue the tender to select the e-bus operators for nine cities, including Bengaluru, Chennai, Mumbai, and New Delhi. A ₹3,000 crore subsidy will be extended for the procurement.

The Ministry of Heavy Industries has capped the subsidy at ₹35 lakh per bus. JBM Auto’s subsidiary, JBM Ecolife Mobility, secured a ₹5,500 crore order earlier this year under the PM eBus Seva Scheme.

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JBM Auto

On April 16, 2025, JBM Auto Ltd opened at ₹634.50, up 1.37% from its previous close of ₹625.95. The stock reached a high of ₹698.00 (11.23%) and a low of ₹634.50. By 11:30 AM, it traded at ₹696.25, an 11.23% increase, with a market cap of ₹16,465.91 crore.

JBM Auto Ltd (NSE: JBMA), established in 1983, specializes in automotive manufacturing, producing sheet metal components, tools, dies, moulds, and buses. The company also offers spare parts, accessories, and maintenance services for buses.

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Olectra Greentech

On April 16, 2025, Olectra Greentech Ltd opened at ₹1,194.90, up 1.36% from its previous close of ₹1,178.80. The stock reached a high of ₹1,272.35 (7.54%) and a low of ₹1,187.05. By 11:32 AM, it traded at ₹1,267.70, a 7.54% increase, with a market cap of ₹10,405.38 crore.

Olectra Greentech Ltd (NSE: OLECTRA) was incorporated in 2000 and is engaged in manufacturing composite polymer insulators and electric buses. The company is headquartered in Hyderabad and focuses on sustainable energy solutions.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.