JBM Auto share price surged 19 percent in trade on Wednesday after it's subsidiary JBM Ecolife Mobility bagged mega Rs 5,500-crore order under PM eBus Sewa Scheme-II. These e-buses will be deployed in around 19 cities across Gujarat, Maharashtra and Haryana.
"JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been awarded the Tender as a bus operator for Procurement, Supply, Operation and Maintenance of 1,021 [One thousand twenty one] Electric Buses and development of allied electric and civil Infrastructure on Gross Cost Contracting [GCC] under the PM-eBus Sewa Scheme," the company said in an exchange filing.
The shares of JBM Auto Ltd. jumped to an intraday high of Rs 674 per share on the NSE, higher by 18.9 percent. The scrip settled at Rs 658.10 apiece, 16.1 percent higher.
The fresh order will be executed in next 12-18 months, the company said. "With this order, the company’s robust 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," it added.
PM-eBus Sewa Scheme underscores the need 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. Earlier, the company had announced a 1:2 stock split with January 31 as the record date.
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