Shares of JBM Auto extended their rally for a second consecutive session on Thursday, June 4, gaining over 6% to Rs 711.95. The stock has now surged more than 10% in the last two trading sessions as investors cheered the company’s leadership in India’s electric bus segment and the government's push towards electric commercial vehicles.
The latest trigger came after JBM Auto announced that it emerged as the leading player in India’s electric bus market during May 2026, securing a 49% market share based on Vahan portal data. The company registered 157 electric buses during the month, the highest among all industry participants.
JBM Auto said it has retained its leadership position in electric bus registrations after recording the highest registrations during FY26. The company also highlighted that the inclusion of Telangana vehicle registration data into the Vahan portal has provided a broader view of electric bus adoption across India.
The rally follows Wednesday’s gains, when the stock surged after the Union Cabinet approved a Rs 5,041 crore scheme aimed at phasing out BS-IV trucks and buses in Delhi-NCR and replacing them with BS-VI and electric commercial vehicles. The scheme is expected to create fresh demand for electric buses and expand the addressable market for manufacturers like JBM Auto.
The company currently operates what it describes as the world's largest dedicated integrated electric bus manufacturing facility outside China, located in the NCR region, with an annual production capacity of 20,000 electric buses.
JBM Auto also stated that its electric buses have collectively covered over 400 million e-kilometres, transported more than one billion passengers and helped reduce over one billion kilograms of carbon dioxide emissions.
At the time of writing, JBM Auto shares were trading at Rs 711.95, up 6.38% for the day, taking the two-session gain to over 10%.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.