JBM Auto hits record high

JBM Auto rose 2.04% to Rs 130 at 9:47 IST on BSE, with the stock extending Wednesday's 5% gains 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 59.95 points or 0.27% at 22,155.25.

On BSE, so far 2,003 shares were traded in the counter as against average daily volume of 10,000 shares in the past two weeks.

The stock hit a high of Rs 132.80 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 128.50 so far during the day.

Shares of JBM Auto have surged 7.12% in two 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. The stock had surged by the maximum permissible level of 5% to settle at Rs 127.40 on Wednesday, 26 March 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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