JBM Auto advances on reports of opening component plant in Sanand

JBM Auto gained 4.57% to Rs 183 at 12:09 IST on BSE on reports the company has yesterday, 23 June 2015 inaugurated its latest and state-of-the-art manufacturing plant in Sanand, Gujarat to manufacture components for Ford India.

Meanwhile, the S&P BSE Sensex was up 95.51 points or 0.34% at 27,899.88.

On BSE, so far 12,160 shares were traded in the counter, compared with an average volume of 14,384 shares in the past one quarter.

The stock hit a high of Rs 190 and a low of Rs 181 so far during the day. The stock hit a record high of Rs 309.90 on 13 November 2014. The stock hit a 52-week low of Rs 73.03 on 23 June 2014.

The stock had underperformed the market over the past one month till 23 June 2015, falling 18.45% compared with 0.55% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 19.02% as against Sensex's 1.38% fall.

The small-cap firm has an equity capital of Rs 20.40 crore. Face value per share is Rs 5.

As per reports, the total investment of JBM Auto at the plant in Sanand is Rs 200 crore where components such as C-Pillar; D-Pillar; Cowl Top; Shotgun and high level sub-assemblies etc. shall be manufactured for Ford India.

JBM Auto's consolidated net profit fell 15.2% to Rs 17.58 crore on 1.4% decline in total income to Rs 376.34 crore in Q4 March 2015 over Q4 March 2014.

JBM Auto is a part of JBM Group. JBM Group has a diversified portfolio to serve in the field of automotive, engineering & design services, renewable energy and education sectors.

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