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Shares of JBM Auto Ltd. and Olectra Greentech Ltd. witnessed sharp gains on Wednesday, June 3, after the Union Cabinet cleared the proposal to replace old trucks and buses in Delhi.
Union Minister Ashwini Vaishnaw, in a Cabinet briefing on Wednesday, announced the outlay of ₹5,041 crore for the phasing out of the old trucks and buses in Delhi.
He said the trucks and buses constitute a large source of pollution. The replacement scheme will phase out older buses with BS6 and electric vehicles.
Vaishnaw said the target is to replace 1.9 lakh trucks and 16,000 buses with these alternatives.
Olectra Greentech manufactures and designs zero-emission electric commercial vehicles such as e-buses, while JBM auto is a major automotive and EV manufacturer, specialising in EV ecosystems with a focus on the public transportation segment.
The Cabinet announced a total outlay of ₹39,290 crore. This included ₹10,000 crore for the ATF price stabilisation fund, ₹5,041 crore to phase out old trucks and buses in Delhi, ₹8,301 crore for the Rameshwar-Konark-Paradeep coastal highway, ₹3,936 crore for the four-laning of the Khagaria-Purnea section of NH-31 and NH-231 in Bihar, ₹7,597 crore for the 4-laning of sections of NH-63 and NH-563 in Telangana and ₹4,415 crore for the upgradation of NH-347B in Madhya Pradesh.
Shares of JBM Auto ended 3.7% higher on Wednesday at ₹671.4. With this move, the stock is up 7% so far this year.
Olectra Greentech's shares also ended 3.6% higher on Wednesday after the cabinet announcement at ₹1,331. The stock is up 11% so far in 2026.
Also Read: IndiGo rebounds from day's lows after Cabinet clears ₹10,000 crore ATF stabilisation fund
Union Minister Ashwini Vaishnaw, in a Cabinet briefing on Wednesday, announced the outlay of ₹5,041 crore for the phasing out of the old trucks and buses in Delhi.
He said the trucks and buses constitute a large source of pollution. The replacement scheme will phase out older buses with BS6 and electric vehicles.
Vaishnaw said the target is to replace 1.9 lakh trucks and 16,000 buses with these alternatives.
Olectra Greentech manufactures and designs zero-emission electric commercial vehicles such as e-buses, while JBM auto is a major automotive and EV manufacturer, specialising in EV ecosystems with a focus on the public transportation segment.
The Cabinet announced a total outlay of ₹39,290 crore. This included ₹10,000 crore for the ATF price stabilisation fund, ₹5,041 crore to phase out old trucks and buses in Delhi, ₹8,301 crore for the Rameshwar-Konark-Paradeep coastal highway, ₹3,936 crore for the four-laning of the Khagaria-Purnea section of NH-31 and NH-231 in Bihar, ₹7,597 crore for the 4-laning of sections of NH-63 and NH-563 in Telangana and ₹4,415 crore for the upgradation of NH-347B in Madhya Pradesh.
Shares of JBM Auto ended 3.7% higher on Wednesday at ₹671.4. With this move, the stock is up 7% so far this year.
Olectra Greentech's shares also ended 3.6% higher on Wednesday after the cabinet announcement at ₹1,331. The stock is up 11% so far in 2026.
Also Read: IndiGo rebounds from day's lows after Cabinet clears ₹10,000 crore ATF stabilisation fund
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