JBM Auto, Olectra rise up to 7%; what's driving investors' interest?

JBM Auto and Olectra Greentech shares surged after Cabinet approved ₹9,585 crore scheme, offering financial incentives to bus and truck fleet owners to transition to cleaner fuels or EVs

Shares of JBM Auto and Olectra Greentech jumped as much as 6.8 per cent on BSE after the Union Cabinet approved a ₹9,585 crore two-year scheme to incentivise cleaner mobility in the National Capital Region (NCR), offering financial incentives to bus and truck fleet owners to transition to cleaner fuels or electric vehicles (EVs). 

At 9:45 AM, JBM Auto was trading 6.2 per cent higher at ₹709.55 per share, while Olectra Greentech was up 4.59 per cent at ₹1,380.25 per share. In comparison, the BSE Sensex was down 0.25 per cent at 74,159.58. 

The scheme targets approximately 2,07,000 Delhi-NCR-registered trucks and buses currently compliant with BS-IV or earlier emission norms, incentivising their replacement with BS-VI or EV alternatives. The Centre will contribute ₹5,041 crore, with participating states — Delhi, Uttar Pradesh, Haryana, and Rajasthan — providing approximately ₹1,600 crore in tax concessions. Benefits include a 5 per cent interest subvention on loans for five years, monthly fuel vouchers of up to ₹4,800 per vehicle category, and lump-sum incentives for EV purchases or certificate of deposit trading.  READ | Rajesh Exports hit lower circuit; Sebi flags ₹15-trillion revenue inflation 

 

JBM Auto received an additional boost after the company reported a 49 per cent share of electric bus registrations in May 2026 — the highest in the industry — with 157 units registered during the month, according to Vahan portal data. The milestone is further reinforced by the recent integration of Telangana's registration data into the Vahan portal from May 2026, providing a more complete picture of national electric bus adoption. 

"Our growth reflects a clear focus on decarbonising public transport while aligning with global benchmarks in sustainable mobility. We are building solutions that combine innovation, efficiency, and user-centric design — aimed at making everyday mobility smarter, safer, and more accessible," said Nishant Arya, Vice Chairman and Managing Director, JBM Auto.

Technical view 

"JBM Auto has witnessed a strong breakout above the ₹680–690 resistance zone on the back of robust volumes, indicating renewed buying interest and a continuation of the prevailing uptrend. The stock is trading well above its key 20, 50, 100 and 200-day EMAs, reflecting strong medium-term momentum. RSI has surged above 65, highlighting improving strength without yet entering extreme overbought territory," said Virat Jagad, sr. technical research analyst, Bonanza.  He added: The breakout from a consolidation phase suggests the potential for further upside toward ₹740–760 in the near term. Immediate support is placed at ₹680, followed by ₹640. As long as the stock sustains above the breakout zone, the overall bias remains positive with a buy-ondips approach favoured.  Disclaimer: The views and investment tips expressed by the analysts/brokerage are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.