JBM Auto jumps 16% in four days

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JBM Auto rallied 5.40% to Rs 473.95, extending gains for the fourth trading session.

Shares of JBM Auto surged 15.95% in four consecutive sessions.

On the BSE, 1.47 lakh shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks.

The stock hit 52-week high of Rs 675.98 on 24 January 2022. The stock hit a 52-week low of Rs 361.70 on 28 September 2022.

The stock had outperformed the market over the past one month, rising 9.28% compared with 0.22% fall in the Sensex.

The counter had outperformed the market in past one quarter, advancing 20.75% as against Sensex's 3.03% rise.

The scrip also had outperformed the market in past one year, surging 21.61% as against Sensex's 10.22% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 74.275. 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 420.20, 413.13 and 437.27 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.

The company's consolidated net profit rose 43% to Rs 36.18 crore on 36.7% rise in net sales to Rs 1,029.24 crore in Q2 FY23 over Q2FY22.

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