Indian EV makers JBM, Olectra jump on govt's incentive scheme

Olectra Greentech

12/09/2024 05:15

** 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)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))