JBM Auto hits the roof

JBM Auto hit an upper circuit limit of 5% at Rs 127.40 at 15:00 IST on BSE after the company said that the commercial operation of its new bus project is likely to start from October 2014.

The company made the announcement after market hours on Tuesday, 25 March 2014.

Meanwhile, the BSE Sensex was up 25.79 points, or 0.12%, to 22,081.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 11,114 shares in the past one quarter.

The stock hit a high of Rs 127.40 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 122.80 so far during the day. The stock hit a 52-week low of Rs 39 on 29 August 2013.

The stock had outperformed the market over the past one month till 25 March 2014, rising 38.92% compared with the Sensex's 5.77% rise. The scrip had outperformed the market in past one quarter, soaring 89.02% as against Sensex's 4.86% rise.

The small-cap company has an equity capital of Rs 10.20 crore. Face value per share is Rs 10.

As and when the commercial production/commercial operation of the unit starts, the same will be intimated to the exchange, JBM Auto said in a statement.

Net profit of JBM Auto surged 265.50% to Rs 9.43 crore on 104.50% surge 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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