Shares of Olectra Greentech and JBM Auto are in focus today after the Centre issued a massive tender for 10,900 electric buses under the PM e-Bus Sewa (PM e-Drive) scheme, as per a Bussiness report. This move is part of India’s push to decarbonise public transport in major urban centres.

The tender, issued by Convergence Energy Services Ltd (CESL) on June 27, covers five key cities. Bengaluru leads the allocation with 4,500 buses, followed by Delhi (2,800), Hyderabad (2,000), Ahmedabad (1,000), and Surat (600).

This government-backed initiative is being executed under the Gross Cost Contract (GCC) model, where bus operators are compensated based on kilometres run, ensuring long-term revenue visibility for fleet providers and OEMs. The scope includes procurement, supply, operations, and maintenance, along with charging and civil infrastructure development.

With bids set to open on August 12, the tender is expected to attract significant interest from leading EV manufacturers like Olectra Greentech and JBM Auto, both of whom are already key players in India’s electric bus space.

Olectra Greentech shares opened at ₹1,221.00 today, touching a high of ₹1,230.30 and a low of ₹1,202.80. The stock’s 52-week high stands at ₹1,960.00, while the 52-week low is ₹989.95.

On the other hand, JBM Auto shares opened at ₹656.05, hit a high of ₹657.70, and dropped to a low of ₹642.00 during the session. The stock has a 52-week high of ₹1,169.38 and a low of ₹489.80.

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