JBM Auto Limited witnessed its shares surge nearly 5% in early trade following the announcement of a significant contract secured by its subsidiary, JBM Ecolife Mobility Private Limited. The contract, valued at approximately Rs 1,800 crore, involves the procurement, operation, and maintenance of 343 electric buses for Ahmedabad BRTS and Ahmedabad Municipal Transport Service under the Gross Cost Contracting (GCC) model.
Details of the Contract:
- Awarding Entities: Ahmedabad Janmarg Limited and other prominent corporate entities.
- Scope: Procurement, operation, and maintenance of electric buses aimed at enhancing urban mobility and sustainability.
- Timeline: The project is scheduled to be completed within a year.
- Order Value: Approximately Rs 1,800 crore.
This development underscores JBM Auto’s role in advancing sustainable transportation solutions. The electric buses are expected to contribute to Ahmedabad’s green mobility goals by reducing carbon emissions and promoting eco-friendly public transportation.
Stock Performance:
As of 9:15 am, JBM Auto shares were trading 3.50% higher at Rs 1,696.55, reflecting investor optimism about the company’s growth prospects following this significant order win.
This milestone aligns with India’s ongoing push towards sustainable urban development and highlights JBM Auto’s growing presence in the electric vehicle and green mobility sector.