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What is the story about?
Three stocks linked to electric mobility, JBM Auto Ltd., Ola Electric Mobility Ltd., and Ather Energy Ltd. gained up to 7% on Monday, May 11, after Prime Minister Narendra Modi's speech on Sunday, encouraged the use of electric vehicles.
While JBM Auto is among the top gainers on the Nifty 500 index, trading with gains of over 4%, those of Ather Energy and Ola Electric Mobility are trading with gains between 2% to 3% as well.
In his public address in Hyderabad, the Prime Minister urged citizens to use electric vehicles, thereby cutting down on the use of petrol and diesel, which is a key imported commodity by India.
The Prime Minister termed this as a key step to conserve foreign exchange reserves. He also encouraged the use of public transport, metro rails, and carpooling for economic resilience.
For the March quarter, Ather energy's revenue increased by 74% from last year, while its net loss also narrowed on a year-on-year basis.
The growth was driven by record deliveries of over 83,000 units, launch of the Ritza family scooter, and increased geographic expansion.
Ola Electric and JBM Auto are yet to disclose their Q4 results.
Shares of JBM Auto are up 5%, having come off the opening highs. The stock is up 8% so far in 2026.
Shares of Ola Electric Mobility are trading 2.7% higher on Monday morning. The stock has recovered most of its losses of 2026 and is down only 1% year-to-date.
Shares of Ather Energy are trading 3% higher at ₹942.4. The stock is up 27% so far this year and is trading close to record high levels.
While JBM Auto is among the top gainers on the Nifty 500 index, trading with gains of over 4%, those of Ather Energy and Ola Electric Mobility are trading with gains between 2% to 3% as well.
In his public address in Hyderabad, the Prime Minister urged citizens to use electric vehicles, thereby cutting down on the use of petrol and diesel, which is a key imported commodity by India.
The Prime Minister termed this as a key step to conserve foreign exchange reserves. He also encouraged the use of public transport, metro rails, and carpooling for economic resilience.
Ather Energy In Q4
For the March quarter, Ather energy's revenue increased by 74% from last year, while its net loss also narrowed on a year-on-year basis.
The growth was driven by record deliveries of over 83,000 units, launch of the Ritza family scooter, and increased geographic expansion.
Ola Electric and JBM Auto are yet to disclose their Q4 results.
Stock Reactions
Shares of JBM Auto are up 5%, having come off the opening highs. The stock is up 8% so far in 2026.
Shares of Ola Electric Mobility are trading 2.7% higher on Monday morning. The stock has recovered most of its losses of 2026 and is down only 1% year-to-date.
Shares of Ather Energy are trading 3% higher at ₹942.4. The stock is up 27% so far this year and is trading close to record high levels.
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