JBM Auto gallops on value buying

JBM Auto jumped 8.28% to Rs 620.45 on bargain hunting after recent steep slide.

Shares of JBM Auto slumped 11% in the past four sessions.

The stock hit a 52-week high of Rs 673 on 10 March 2023. The stock hit a 52-week low of Rs 361.70 on 28 September 2022.

The stock outperformed the market over the past one month, rising 11.89% compared with 5.02% fall in the Sensex.

The scrip outperformed the market in past one quarter, jumping 50.10% compared with 5.54% decline in the Sensex.

The scrip outperformed the market in past one year, climbing 34.27% compared with 0.13% rise in the Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 60.64. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 549.89, 494.06 and 455.59, respectively.

JBM Auto is engaged in the automotive business that manufactures and sell sheet metal components, tools, dies & moulds and buses including sale of spare parts, accessories & maintenance contract of buses.

On a consolidated basis, net profit of JBM Auto rose 3.81% to Rs 34.33 crore and net sales rose 16.05% to Rs 953.05 crore in Q3 December 2022 over Q3 December 2021.

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