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JBM Auto, Ather Energy, IRCTC, CONCOR: EV, rail, public transport stocks in focus on PM's appeal; check the impact
By Swati Verma
2 min read | Updated on May 11, 2026, 09:23 IST
SUMMARY
The broader objective behind the appeal is to reduce pressure on India’s foreign exchange reserves and crude oil import bill at a time of heightened geopolitical uncertainty and elevated global commodity prices.
Stock list
The push toward fuel efficiency and public mobility may reinforce the long-term EV and electric public transport narrative. Image: Shutterstock
JBM Auto share price: Prime Minister Narendra Modi on Sunday, May 10, appealed to citizens to limit non-essential gold purchases, reduce international travel, conserve fuel, and increase the use of public transportation amid the ongoing West Asia crisis. This is likely to put a spotlight on several sectors and stocks in focus.
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Join nowThe broader objective behind the appeal is to reduce pressure on India’s foreign exchange reserves and crude oil import bill at a time of heightened geopolitical uncertainty and elevated global commodity prices.
Here’s a look at the sectors and themes that are in focus.
Likely Gainers
Domestic Tourism & Railway Theme
Stocks: IRCTC, CONCOR
Reason: Increased focus on domestic tourism, preferring railway transport for the movement of goods, and lower fuel consumption could strengthen demand sentiment for railway and mass transit-linked businesses.
Electric Bus & EV Mobility Players
Stocks: JBM Auto, Olectra Greentech, Tata Motors, Mahindra & Mahindra, TVS Motor Company, Ola Electric, Ather Energy
Reason: The push toward fuel efficiency and public mobility may reinforce the long-term EV and electric public transport narrative.
Domestic Tourism & Hospitality
Stocks: Indian Hotels Company, EIH Ltd, Lemon Tree Hotels, Chalet Hotels
Reason: Reduced international travel could shift spending toward domestic tourism, staycations, and local leisure destinations.
Gold ETFs / Financial Gold Products
Funds: Nippon India ETF Gold BeES, HDFC Gold ETF
Reason: Investors may prefer financial gold exposure over physical jewellery purchases amid rising prices and economic uncertainty.
Likely losers / stocks under pressure
Jewellery Retailers
Stocks: Titan Company, Kalyan Jewellers, Senco Gold, PC Jeweller
Reason: PM Modi’s appeal to avoid non-essential gold purchases for a year may impact sentiment around jewellery demand and discretionary gold spending.
Outbound Travel & International Tourism Companies
Stocks: Thomas Cook India, Easy Trip Planners (EaseMyTrip), Yatra Online
Reason: A slowdown in overseas travel could weigh on international holiday bookings, forex services, and outbound tourism demand.
Gold Loan NBFCs
Stocks: Muthoot Finance, Manappuram Finance
Reason: Lower physical gold purchases may gradually affect gold loan growth and collateral creation trends.
Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.
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About The Author
Swati Verma is a business journalist with over 11 years of experience. She writes on equities, corporate earnings, sectoral trends, and industry outlook, among others. At Upstox, she leads financial markets coverage.
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