JBM Auto shares plummet 4% amid high trading volumes

JBM Auto shares slipped 4.3% to their intraday low of Rs 618.60 on the BSE today amid heavy trading volumes witnessed in the stock. The investors seemed to book their profits a day after the stock witnessed a surge in its price.

The JBM Auto stock ended Wednesday’s trading session, rising significantly by 14% on the BSE.

The company, on Wednesday, announced that it had been awarded the tender for end-to-end execution of 1,021 electric buses and the development of allied electric and civil Infrastructure on Gross Cost Contracting (GCC) under the PM-eBus Sewa Scheme (Tender-II).


The approximate order value of the tender stands at Rs 5,500 crore and these e-buses will be deployed in around 19 cities across Gujarat, Maharashtra and Haryana. The tentative timeline for the execution of the project is 12-18 months.

Further, the company informed that the project will be supported by a Payment Security Mechanism (PSM), ensuring timely payments to electric bus operators and enhancing financial sustainability for industry stakeholders.

“JBM Auto stands firmly committed to India’s e-mobility revolution. The company’s order book continues to retain its robustness with the award of this prestigious tender under the PM-eBus Sewa Scheme (Tender-II) that underscores the Hon’ble Prime Minister’s vision to expand the deployment of electric buses to the grassroot level of the Nation. These e-buses will clock over 32 bn+ passengers e-kms and will save over 1 bn+ CO2 emissions over 12 years of deployment,” the company said in its regulatory filing.

With this order, the company informed, the order book now stands at 11,000+ electric buses in various stages of execution, a significant driver towards the achievement of the company’s Net Zero 2040 goal.

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