Olectra Greentech, JBM Auto Rally as Hyderabad EV Plant Goes Live

Shares of

climbed sharply on January 2 after the company announced the commencement of operations at its electric vehicle (EV) manufacturing facility in Hyderabad. The stock rose nearly 6 percent, touching a one-month high, while peer JBM Auto gained close to 8 percent, ending a two-day losing streak. Olectra Greentech’s stock advanced to ₹1,274.80, reflecting strong investor optimism around its capacity expansion plans. JBM Auto also benefited from the positive sentiment in the EV space, with its shares rising to ₹673.40. In a post-market exchange filing on January 1, Olectra Greentech confirmed December 31 as the commercial operation date (COD) for its greenfield EV manufacturing facility located at Seetharampur, Hyderabad, Telangana. The newly operational plant is expected to have an annual production capacity of 2,500 electric buses per shift under Phase I. This represents 50 percent of the company’s planned per-shift capacity of 5,000 buses per annum, indicating significant scope for further scale-up in the coming phases. The start of operations at the Hyderabad facility strengthens Olectra Greentech’s manufacturing capabilities at a time when demand for electric buses is rising across India, driven by government-led electrification initiatives and increasing adoption of clean mobility solutions by state transport undertakings. Market participants view the development as a positive long-term trigger for the company, while the broader EV ecosystem, including players like JBM Auto, continues to attract investor interest on expectations of sustained growth in electric mobility.