JBM Auto

JBM Auto Ltd announced that its subsidiary, JBM Ecolife Mobility, has secured a ₹750 crore strategic investment from Motilal Oswal Alternates, the alternative investment arm of the Motilal Oswal Group. The growth capital will be used to deploy around 2,000 energy-efficient e-buses under long-term contracts with state transport authorities, taking JBM's total e-bus fleet to roughly 5,000 within a year. The investment is the largest ever by an Indian investor in electric mobility and is expected to reduce CO2 emissions by 2.5 billion kgs and save 1 billion litres of diesel over the fleet's lifetime. EY acted as financial advisor, while Trilegal and Khaitan & Co provided legal counsel for the transaction.

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** Shares of JBM Auto JBMA.NS rise as much as 3%; last up 1.5% at 703 rupees

** Alternative investment arm of Motilal Oswal invests 7.5 billion rupees in co's unit for electric bus deployment and public transit infrastructure across India

** Investment will enable the operation and rolling deployment of advanced, zero-emission public transport fleets operating under long-term agreements with state transport authorities across key Indian cities, says co

** YTD, stock up 12.7%

(Reporting by Mridula Kumar in Bengaluru)

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** Shares of India's JBM Auto JBMA.NS rise 5.65% to 706.40 rupees, Olectra Greentech OLEC.NS gains 3.38% to 1,371.20 rupees

** India approved 95.85 billion rupee ($1 billion) scheme to replace old trucks and buses in Delhi-NCR with cleaner electric vehicles

** ICICI Direct says electric bus makers like JBMA, OLEC could benefit from potential fleet upgrades by state transport undertakings; adds scheme is among India's largest vehicle replacement programmes

** JBMA also recorded 157 electric bus registrations in May, the highest in the industry, with market share rising to 49% from 33% in April

** YTD, JBMA up 13.56% and OLEC up 16.03%

($1 = 95.7200 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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June 3 (Reuters) - JBM Auto Ltd JBMA.NS:

• JBM AUTO - RECORDS SALE OF 157 ELECTRIC BUSES IN MAY 2026

Source text: ID:nNSE1vVS55

Further company coverage: JBMA.NS

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May 19 (Reuters) - India is considering incentives exceeding $1 billion to spur private-sector adoption of electric buses and trucks, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Reuters could not immediately verify the report.

(Reporting by Carlos Méndez in Mexico City)

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BENGALURU, May 11 (Reuters) - Diary of India economic, corporate events on May 11

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** Shares of India's Ather Energy ATHR.NS jump 6.4% to 918.20 rupees, Olectra Greentech OLEC.NS rise 1.7% to 1,204.35 rupees and JBM Auto JBMA.NS rise 2.11% to 624.35 rupees

** Shares of EV companies climb after Delhi government unveiled a draft electric-vehicle policy proposing restrictions on fossil-fuel vehicles

** Proposes banning registration of new petrol two-wheelers from April 2028, new CNG three-wheelers from January 2027, as part of efforts to accelerate EV adoption

** Ather makes electric scooters, while JBM Auto, Olectra Greentech manufacture electric buses and other commercial EVs

** Two-wheelers and three-wheelers form large share of Delhi's vehicle base, key contributors to urban emissions- draft policy

** YTD, ATHR up 14.35%, OLEC down 1.23% and JBMA down 2.53%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

** Indian electric bus companies Olectra Greentech OLEC.NS, JBM Auto JBMA.NS, Ashok Leyland ASOK.NS gains 5.76%, 7.19%, 1.35%, respectively

** Indian government says 10,000 AC e-buses to be deployed in 116 cities by 2027 under PM e-Bus Sewa Scheme

** Minister of Housing and Urban Affairs ML Khattar says agreements for 6,500 buses done; second scheme for 35,000 buses to be introduced soon

** YTD, OLEC falls 9.6%; JBMA loses 7.6%; ASOK sheds 8.37%

(Reporting by Abhirami G in Bengaluru)

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Jan 30 (Reuters) - JBM Auto Ltd JBMA.NS:

• JBM AUTO DEC-QUARTER CONSOL NET PROFIT 551.1 MILLION RUPEES

• JBM AUTO DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 16.14 BILLION RUPEES

Source text: [ID:]

Further company coverage: JBMA.NS

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Dec 30 (Reuters) - JBM Auto Ltd JBMA.NS:

• CLARIFIES ON REPORT "JBM GROUP SIGNS EXCLUSIVITY PACT TO BUY FORTUM'S EV CHARGING BUSINESS IN INDIA"

• NEITHER CO NOR ANY OF ITS UNITS EXECUTED ANY AGREEMENT RELATED TO INFORMATION IN REPORT

Source text: [ID:]

Further company coverage: JBMA.NS

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** Shares of JBM Auto JBMA.NS jump 7.4% to 672 rupees

** Stock logs biggest intraday pct gain since May 12

** International Financial Corporation (IFC) invests $100 million in its unit JBM Ecolife Mobility

** Investment will finance deployment of modern, air conditioned electric buses across cities in Maharashtra, Assam, and Gujart

** Stock sees busiest session since April 16, with trading volume at nearly 18.2x 30-day avg

** Stock down 12% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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Feb 19 (Reuters) - JBM Auto Ltd JBMA.NS:

• ECOLIFE AWARDED TENDER FOR 1,021 ELECTRIC BUSES

• TENDER ORDER VALUE APPROXIMATELY 55 BILLION RUPEES

Source text: ID:nBSEbjdfjX

Further company coverage: JBMA.NS

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Jan 29 (Reuters) - JBM Auto Ltd JBMA.NS:

• DEC-QUARTER CONSOL NET PROFIT 526.4 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 13.96 BILLION RUPEES

Source text: ID:nBSE9ynjxw

Further company coverage: JBMA.NS

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** Shares of JBM Auto Ltd JBMA.NS rise as much as 4.9% to 1,720 rupees

** Auto parts maker says its unit got contracts as a bus operator for 343 electric buses for Ahmedabad BRTS and some corporates; order valued at 18 billion rupees ($211.67 million)

** Stock on track to snap 6-month losing streak; has gained 7.3% so far this month

** More than 174,000 shares traded as of 9:38 a.m. IST, vs their 30-day moving avg of 223,581 shares

** JBMA last up 2.2%, adding to YTD gains of 14.3%

($1 = 85.0370 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Oct 28 (Reuters) - JBM Auto Ltd JBMA.NS:

• JBM AUTO - APPROVES SUB-DIVISION OF SHARES

• JBM AUTO SEPT-QUARTER CONSOL NET PROFIT 495.3 MILLION RUPEES

• JBM AUTO SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 12.86 BILLION RUPEES

Source text: ID:nnAPN2CNP77

Further company coverage: JBMA.NS

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Sept 17 (Reuters) - JBM Auto Ltd JBMA.NS:

• JBM ECOLIFE MOBILITY SECURES $100 MILLION STRATEGIC FUNDING

• FUNDS TO BE INFUSED TOWARDS SUPPLYING, OPERATING ELECTRIC BUSES

• AROUND 650 E-BUSES TO BE DEPLOYED IN MULIPLE STATES

Source text for Eikon: ID:nBSE7NdfY5

Further company coverage: JBMA.NS

(Reporting by VijayDattaram Malkar)

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** Brokerage UBS estimates a 31-34% cut in incentives per vehicle for electric two- and three-wheelers under new Indian scheme

** Says allocation of funds under the scheme is heavy on commercial vehicles and introduces incentives for setting up public charging infrastructure

** Says scheme is negative for cars as it leaves out e-cabs, which were part of earlier scheme

** Some EV makers had risen on Thursday after scheme was announced

** EV makers largely up less than 1%, JBM Auto JBMA.NS - which makes electric buses - up 2.5%

** Nifty Auto index .NIFTYAUTO up 0.1%

(Reporting by Varun Vyas in Bengaluru)

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** JBM Auto JBMA.NS up 5.5% and Olectra Greentech OLEC.NS gains 3%

** Stocks among top small-cap .NIFSMCP100 gainers

** India govt approves scheme to spend 109 bln rupees ($1.3 bln) on incentives for EV adoption

** JBMA shares up 39% YTD, while OLEC up about 23% YTD vs 27% gains in small-cap index

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of JBM Auto JBMA.NS jump 4% in above avg vols

** Busmaker said unit signed deal with Indian intercity bus service LeafyBus to supply 200 electric buses

** Co did not give financial details of the deal

** Stock was up 1.3% before the announcement

** Trading volumes, which jumped sharply post announcement, are at 2x the 30-day avg

** Stock up about 35% YTD, eyes fourth straight year of gains

(Reporitng by Nishit Navin)

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Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

** Shares of JBM Auto JBMA.NS up 2.5%

** JBM's unit signs agreement with MUON India, a Macquarie Group firm, for over 2,000 e-buses over next couple of years

** More than 623,000 shares traded by 03:08 p.m. IST, 1.3x times their 30-day avg

** Including session's gain, stock is up 42.7% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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By Dhwani Pandya and Nandan Mandayam

MUMBAI, April 22 (Reuters) - Australia's Macquarie Group launched on Monday an EV financing platform for India that will focus 95% of its $1.5 billion investment on electrifying fleets of commercial vehicles.

The platform, called Vertelo, will offer financing, fleet management and charging infrastructure solutions, its chief executive Sandeep Gambhir said at the launch.

The remaining 5% of investment will go towards charging infrastructure and other requirements.

Macquarie had previously said it would launch an EV financing platform along with the United Nations' Green Climate Fund (GCF) targeting initial investments on electric buses, shared fleets and charging infrastructure, but did not give a breakdown.

The Australian financial services conglomerate's focus on fleet electrification comes as EV sales are slowing down globally, with carmakers resorting to discounts to boost demand.

BP-backed startup BluSmart and Lithium operate a fleet of electric taxis in India, while Uber has also added electric cars in India by partnering with fleet operators.

Vertelo will buy up to 2,000 electric cars from Indian EV market leader Tata Motors TAMO.NS over the next three years, and up to 2,000 buses each from electric bus makers JBM Auto JBMA.NS and Eka Mobility over the next three-to-five years, Macquarie said in a statement.

The platform has so far drawn equity investments totalling $405 million from Macquarie and the GCF and will deploy $1.5 billion over the next 10 years.

Macquarie in December picked up a minority stake in Indian fast-charging infrastructure provider Charge Zone.

(Reporting by Dhwani Pandya in Mumbai and Nandan Mandayam in Bengaluru
Editing by Mark Potter)

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** Shares of Jindal Stainless JIST.NS trims some losses, last down 1.8% at 659.8 rupees

** India's biggest stainless steel maker announces partnership with busmaker JBM Auto JBMA.NS for more than 500 electric buses

** JIST was down ~3.8% before the announcement

** JBMA was already up after its unit won a $904 mln order

** Avg analyst rating on JIST is "buy", same as Jindal Steel and Power JNSP.NS, while JSW Steel JSTL.NS and Tata Steel TISC.NS rated "hold" on avg - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Electric bus makers Tata Motors TAMO.NS, JBM Auto JBMA.NS, Olectra Greentech OLEC.NS, and Ashok Leyland ASOK.NS rise 0.3%-5%

** Gains come after Finance Minister Nirmala Sitharaman says in her budget speech that the government will encourage EV adoption in public transport

** Govt plans to expand EV ecosystem by supporting manufacturing and charging infrastructure

** TAMO, JBMA and OLEC up between 13% and 35% YTD, while ASOK down 3.8%

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

Jan 30 (Reuters) - JBM Auto Ltd JBMA.NS:

• RE-APPOINTED NISHANT ARYA AS MANAGING DIRECTOR

• DEC-QUARTER CONSOL NET PROFIT 486.6 MILLION RUPEES VERSUS PROFIT 343.3 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 13.46 BILLION RUPEES VERSUS 9.53 BILLION RUPEES

Source text for Eikon: ID:nNSEb06vXp

Further company coverage: JBMA.NS

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** Shares of JBM Auto JBMA.NS, Olectra Greentech OLEC.NS, Tata Motors TAMO.NS and Ashok Leyland ASOK.NS rise between 0.3%-3%

** Indian government plans to set up funds with an outlay of up to 300 bln rupees ($3.61 bln) to boost electric bus mobility- CNBC-TV 18 reports

** India aims to deploy 50,000 e-buses over next 4-5 years at ~$12 bln cost

** Olectra, Tata Motors up ~3% and ~0.8% to new record highs

** Analysts' average rating on TAMO and ASOK are equivalent of "buy;" JBMA and OLEC are not yet rated - LSEG data

** Median PTs on TAMO and ASOK at 3.6% discount and ~14% premium to last close, respectively

** With YTD gains of 184%, JBMA top performer among e-bus makers; ASOK's yearly gains of 26% among smallest in Nifty Auto index .NIFTYAUTO, which is up 48%

($1 = 83.0240 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** Shares of electric bus makers Tata Motors TAMO.NS, Olectra Greentech OLEC.NS, JBM Auto JBMA.NS and Ashok Leyland ASOK.NS rise between 2% and 8.7%

** Indian govt plans to replace 800,000 diesel buses with e-buses over next 7 years - Economic Times report, citing govt sources

** Ministry of Heavy Industries, abovementioned cos did not immediately respond to Reuters' request for comment

** JBMA up 2%, ASOK – which makes e-buses via its unit Switch – jumps 4%; TAMO surges 6.5% to record high, OLEC soars 8.7%

** India currently aims to deploy 50,000 e-buses over next 4-5 yrs at ~$12 bln cost

** With YTD gains of 184%, JBMA top performer among e-bus makers; ASOK's yearly gains of 26% among smallest in Nifty Auto index .NIFTYAUTO, which is up 48%

(Reporting by Nandan Mandayam in Bengaluru)

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Sept 20 (Reuters) -

• U.S. EMBASSY INDIA: UNITED STATES AND INDIA LAUNCH MECHANISM TO FACILITATE DEPLOYMENT OF 10,000 MADE-IN-INDIA ELECTRIC BUSES IN INDIAN CITIES

• U.S. EMBASSY INDIA: U.S. GOVERNMENT WILL PARTNER WITH PUBLIC AND PRIVATE-SECTOR ENTITIES TO ACCELERATE ELECTRIC BUS FINANCING IN INDIA

• U.S. EMBASSY INDIA: KEY COMPONENT OF THIS PROJECT WILL BE A NEW PAYMENT SECURITY MECHANISM THAT WILL ACCELERATE NEW INVESTMENTS BY LOWERING FINANCIAL RISKS

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** Shares of electric bus makers Tata Motors TAMO.NS, Olectra Greentech OLEC.NS and JBM Auto JBMA.NS close between 1.9% and 10.1% higher on Wednesday

** India cabinet approves 576.13 billion rupees ($6.92 billion) subsidy scheme for electric bus production

** Of this, federal govt to provide subsidy up to 200 billion rupees

** Govt eyes deployment of 10,000 electric buses across 169 cities through scheme

** JBMA shares close up 10.1%, rival OLEC finishes 8.8% higher, while TAMO – among top gainers on the Nifty 50 index .NSEI ends up 1.9%

** JBMA leads gains among e-bus makers with 180% YTD rise compared to OLEC's 147% YTD rise and TAMO's ~60% rise

($1 = 83.2208 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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