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EV leadership, record power demand and steady capacity expansion have placed these three stocks firmly in focus for the next trading session.
✨ Key Takeaways
Indian benchmark indices ended lower on Wednesday, June 3, reversing gains from the previous session. The decline came amid a rise in crude oil prices, weakness in information technology stocks and growing concerns over India’s absence of a strong artificial intelligence-led growth narrative, which weighed on investor sentiment.
However, Banking stocks offered some resilience. The Bank Nifty outperformed the broader market, recovering sharply from Intraday lows and closing 0.88 per cent higher, extending its gaining streak for a second consecutive session.
Against this backdrop, select stocks are expected to remain in focus on Thursday following fresh business updates and operational developments.
1. JBM Auto Ltd
JBM Auto Ltd reported that it led India’s electric bus market in May 2026 with a 49 per cent share, based on Vahan data. It recorded sales of 157 electric buses during the month, the highest in the country.
The market share improved significantly from 33 per cent in April 2026 to 49 per cent in May 2026 on a financial year-to-date basis for FY27. The company also retained its leadership position following the highest e-bus registrations recorded in FY26, reinforcing its dominance in the segment.
Indian Energy Exchange Ltd recorded a total electricity traded volume of 12,983 MUs during the month, reflecting a year-on-year increase of 18.6 per cent. Renewable Energy Certificates (RECs) traded during the period stood at 6.10 lakh units, although REC volumes declined 65 per cent year-on-year.
India’s overall energy consumption reached 164.98 BUs in May 2026, marking a year-on-year growth of 11.5 per cent. Peak power demand during the month surged to an all-time high of 270.82 GW, highlighting sustained strength in electricity consumption and grid load conditions.
Shree Rama Multi-Tech Ltd share price may remain in focus following an update on its capacity expansion plans aimed at meeting rising demand.
The company currently operates a capacity of 7.25 crore tubes per month, with utilisation levels at 90 per cent. It plans to add 45 lakh tubes per month, representing an expansion of around 6 per cent in existing capacity.
The proposed expansion is expected to be implemented in the second quarter of FY 2026-27, with a capital expenditure of Rs 10 crore to be funded entirely through internal accruals. The company stated that the expansion is driven by consistent demand for its products and the need to capture emerging growth opportunities in the packaging segment.
Disclaimer: The article is for informational purposes only and not investment advice.