JBM Auto extends recent rally

JBM Auto was locked at 5% upper circuit at Rs 134.10 at 9:44 IST on BSE, with the stock extending recent rally triggered by the company's announcement that the commercial operation of its new bus project is likely to start from October 2014.

Meanwhile, the S&P BSE Sensex was up 57.56 points or 0.26% at 22,271.93.

On BSE, so far 3,702 shares were traded in the counter as against average daily volume of 11,000 shares in the past two weeks.

The ruling market price of Rs 134.10 is also its record high for the counter. The stock hit a low of Rs 131.90 so far during the day.

Shares of JBM Auto have surged 10.5% in three trading sessions from Rs 121.35 on 25 March 2014, after the company after market hours on 25 March 2014 said that the commercial operation of its new bus project is likely to start from October 2014. As and when the commercial production/commercial operation of the unit starts, the same will be intimated to the exchange, JBM Auto said.

JBM Auto's net profit surged 265.5% to Rs 9.43 crore on 104.5% growth in net sales to Rs 194.30 crore in Q3 December 2013 over Q3 December 2012.

JBM Auto is engaged in the manufacture of sheet metal components, assemblies, sub- assemblies, tools, dies and moulds. The company operates through three main divisions namely sheet metal division, tool room division and special purpose vehicle (SPV).

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