JBM Auto shares surged 19% on February 19 after its subsidiary, JBM Ecolife Mobility, secured a massive ₹5,500-crore order under the PM eBus Sewa Scheme-II.
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The stock hit an intraday high of ₹674 per share on the NSE, rebounding sharply from a three-day decline and outperforming its sector.
In an exchange filing, the company announced that JBM Ecolife Mobility had won the tender to serve as a bus operator for the procurement, supply, operation, and maintenance of 1,021 electric buses.
The project also includes the development of allied electric and civil infrastructure on a Gross Cost Contracting (GCC) model.
Despite the strong rally, JBM Auto remains below key moving averages, signalling continued market volatility. The stock has witnessed sharp fluctuations over the past month, reflecting broader uncertainties in the sector.
The contract win further strengthens JBM Auto’s position in India’s electric mobility sector, aligning with the government’s push for sustainable public transport. With the order set to boost revenue visibility, investor sentiment turned bullish, driving the stock higher.
At market close, shares of JBM Auto ended 16.1% higher at ₹658.10 on the NSE.
