According to CNBC -TV18, shares of JBM Auto and Olectra Grentech increased by 8% -12% during Wednesday’s trade session amid expectations to obtain new contracts. As reported by the news agency, its sources indicated that the government intended to launch a tender for the acquisition of 10,000 electric buses. These tenders are expected to be issued next month as part of the PM e-drive initiative. Cesl, or Convergence Energy Services Ltd, is responsible for releasing a tender to select the Intra-City Electric bus operator for nine cities, with the central government providing a subsidy of about £ 3,000 for the purchase of these buses, as indicated by CNBC TV18, with reference to its sources. The nine cities involved are Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Surat, Ahmedabad, New Delhi and Kolkata. (More upcoming) first published: 16 Apr 2025, 12:16 pm Ist
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