State-run Convergence Energy Services Ltd (CESL) floated a tender for 4,588 electric buses under the Pradhan Mantri e-Bus Sewa Scheme which is valued at Rs. 8,000 crore. Bidders include EKA Mobility (2,450 buses), JBM (1,200 buses), Adani Enterprises (350 buses), and others. The total scheme cost is Rs. 57,613 crore which aims to deploy 10,000 e-buses over the next decade. This initiative promotes all-electric public transport systems, with financial security provided through a Payment Security Mechanism (Rs. 3,435 crore) to ensure timely payments to OEMs and operators, boosting electric bus adoption and infrastructure.
Listed below are some of the stocks that might benefit from CESL’s tender float of 10,000 e-buses under the PM e-Bus Sewa Scheme estimated at Rs. 57,613 crore.
JBM Auto
JBM Auto is a leading manufacturer in the automotive sector, focusing on electric vehicles (EVs), buses, and components. Their business model focuses on sustainable mobility solutions, catering to both public and private transport sectors. JBM Auto leverages advanced technology and strategic partnerships to innovate and expand its product offerings, aiming to improve urban transportation while reducing environmental impact.
With a market capitalization of Rs. 17,340.94 Crores, the shares of JBM Auto Limited closed at Rs. 1,466.50 per equity share, down 1.75 percent from its previous day’s close price of Rs. 1,492.55.
Its Revenue from operations grew by 4.46 percent from Rs. 1,231 Crores in Q2FY24 to Rs. 1,286 Crores in Q2FY25, accompanied by profits of Rs. 49 Crores to Rs. 53 Crores.
Olectra Greentech
Olectra Greentech Limited, established in 2000, is India’s largest manufacturer of electric buses and composite polymer insulators. Its business model focuses on sustainable e-mobility solutions, producing electric buses and trucks while expanding its product line to support environmental goals and enhance urban transportation. The company aims to lead the electric vehicle market through innovation and strategic partnerships.
With a market capitalization of Rs. 11,105.11 Crores, the shares of Olectra Greentech Limited closed at Rs. 1,352.95 per equity share, down 3.87 percent from its previous day’s close price of Rs. 1,407.35.
Its Revenue from operations grew by 70.68 percent from Rs. 307 Crores in Q2FY24 to Rs. 524 Crores in Q2FY25, accompanied by a profit of Rs. 19 Crores to Rs. 48 Crores.
Adani Enterprises
Adani Enterprises Limited is the flagship company of the Adani Group, focusing on infrastructure development across diverse sectors such as energy, transportation, and consumer goods. Adani Enterprises has entered the electric bus manufacturing sector in collaboration with EKA Mobility while focusing on supplying and operating electric buses for intra-city transport. They are involved in a significant 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, the shares of Adani Enterprises Limited closed at Rs. 2,374 per equity share, down 4.37 percent from its previous day’s close price of Rs. 2,482.50.
Its Revenue from operations increased by 15.66 percent from Rs. 19,546 Crores in Q2FY24 to Rs. 22,608 Crores in Q2FY25, accompanied by profits of Rs. 333 Crores to Rs. 1,989 Crores.
Tata Motors
Tata Motors is a leading global automobile manufacturer, known for its diverse range of vehicles, including passenger cars, trucks, and electric vehicles (EVs). The company’s business model focuses on innovation, sustainability, and customer-centric solutions. Tata Motors invests in advanced technologies and strategic partnerships to enhance product offerings and expand its market presence.
With a market capitalization of Rs. 2,85,084.72 Crores, the shares of Tata Motors Limited closed at Rs. 774.45 per equity share, down 0.72 percent from its previous day’s close price of Rs. 780.05.
Its Revenue from operations declined by 3.5 percent from Rs. 1,05,129 Crores in Q2FY24 to Rs. 1,01,450 Crores in Q2FY25, accompanied by a profit of Rs. 3,832 Crores to Rs. 3,450 Crores.
Written by Santhosh S
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