Shares of companies specializing in electric buses experienced a significant boost on Wednesday.
JBM Auto and Olectra Greentech, prominent electric bus makers, saw their shares surge by over 12% on the BSE exchange.
This remarkable rise in bus company shares follows the recent approval of the PM e-bus service scheme by the cabinet.
The scheme aims to introduce 10,000 electric buses and is set to incur an estimated cost of Rs 57,613 crore.
JBM Auto Shares Rise by Over 12% Following PM e-Bus Scheme Approval
After the green light for the PM e-bus service scheme, JBM Auto’s shares skyrocketed by 12.49% to reach Rs 1474.45 on the Bombay Stock Exchange.
By the trading session’s close, JBM Auto’s shares settled at Rs 1435.10, marking a 9.5% increase on the BSE.
Simultaneously, Olectra Greentech’s shares also witnessed a 10% growth, with the company’s shares concluding the trading day at Rs 1223.65, reflecting a 9% surge.
Olectra Greentech’s Shares Surge by 190% in 6 Months
Olectra Greentech, a manufacturer of electric buses, achieved a remarkable 190% increase in shares over the past six months.
The company’s shares stood at Rs 422.50 on the BSE as of February 17, 2023.
However, by August 16, 2023, Olectra Greentech’s shares had surged to Rs 1223.65 on the BSE.
Similarly, JBM Auto’s shares have experienced a 160% growth in the same period.
JBM Auto’s shares were valued at Rs 553.60 on the BSE on February 17, 2023, and by August 16, 2023, they had reached Rs 1435.10 on the BSE.
