Stocks to benefit as Govt to float tender under PM e-Bus Sewa Scheme worth ₹57,613 Cr
e-bus sewa scheme: State-run Convergence Energy Services Ltd (CESL) has recently issued a tender for 4,588 electric buses as part of the Pradhan Mantri e-Bus Sewa Scheme, with a total value of Rs. 8,000 crore. Notable bidders for this project include EKA Mobility (2,450 buses), JBM (1,200 buses), Adani Enterprises (350 buses), and others. The overall scheme, valued at Rs. 57,613 crore, aims to deploy a total of 10,000 e-buses over the next decade.
This initiative is designed to promote the use of all-electric public transport systems, with financial security ensured through a Payment Security Mechanism worth Rs. 3,435 crore to guarantee timely payments to Original Equipment Manufacturers (OEMs) and operators, thereby encouraging the adoption of electric buses and supporting the necessary infrastructure.
Among the companies that stand to benefit from CESL’s tender for 10,000 e-buses under the PM e-Bus Sewa Scheme, estimated at Rs. 57,613 crore, is JBM Auto.
JBM Auto is a prominent player in the automotive industry, specializing in electric vehicles (EVs), buses, and components. The company’s business model is centered around providing sustainable mobility solutions for both public and private transportation sectors. By leveraging advanced technology and strategic partnerships, JBM Auto continuously innovates and expands its product offerings with the goal of enhancing urban transportation while minimizing environmental impact.
With a market capitalization of Rs. 17,340.94 Crores, JBM Auto Limited’s shares closed at Rs. 1,466.50 per equity share, representing a 1.75 percent decrease from the previous day’s closing price of Rs. 1,492.55. The company’s Revenue from operations increased by 4.46 percent from Rs. 1,231 Crores in Q2FY24 to Rs. 1,286 Cro
Established in 2000, Olectra Greentech Limited is a prominent player in India’s electric vehicle industry, specializing in the manufacturing of electric buses and composite polymer insulators. The company is committed to providing sustainable e-mobility solutions, expanding its product line to support environmental goals and improve urban transportation. Through a combination of innovation and strategic partnerships, Olectra Greentech aims to lead the electric vehicle market.
With a market capitalization of Rs. 11,105.11 Crores, Olectra Greentech Limited’s shares closed at Rs. 1,352.95 per equity share, representing a 3.87 percent decrease from the previous day’s closing price of Rs. 1,407.35. The company’s Revenue from operations saw a significant growth of 70.68 percent, rising from Rs. 307 Crores in Q2FY24 to Rs. 524 Crores in Q2FY25, with profits increasing from Rs. 19 Crores to Rs. 48 Crores.
Adani Enterprises Limited, the flagship company of the Adani Group, is a key player in infrastructure development across various sectors such as energy, transportation, and consumer goods. The company has ventured into the electric bus manufacturing sector through a collaboration with EKA Mobility, focusing on supplying and operating electric buses for intra-city transport. Adani Enterprises is actively participating in a major tender for 3,600 electric buses under the Pradhan Mantri e-bus Sewa initiative.
With a market capitalization of Rs. 2,74,002.51 Crores, Adani Enterprises Limited’s shares closed at Rs. 2,374 per equity share, marking a 4.37 percent decrease from the previous day’s closing price of Rs. 2,482.50. The company’s Revenue from operations grew by 15.66 percent, increasing from Rs. 19,546 Crores in Q2FY24 to 3054 cr
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