JBM Auto jumps after unveiling electric bus

JBM Auto rose 6.46% to Rs 151.60 at 9:42 IST on BSE after the company said it developed an electric bus in partnership with an European bus manufacturer, Solaris Bus and Coach S.A.

The announcement was made during trading hours today, 4 February 2016.

Meanwhile, the BSE Sensex was up 217.44 points, or 0.90%, to 24,440.76.

On BSE, so far 2,836 shares were traded in the counter, compared with an average volume of 4,225 shares in the past one quarter. The stock hit a high of Rs 154.70 and a low of Rs 142.70 so far during the day. The stock hit a 52-week high of Rs 277 on 15 April 2015. The stock hit a 52-week low of Rs 134.80 on 13 August 2015. The stock had underperformed the market over the past one month till 3 February 2016, sliding 25.45% compared with 7.41% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.09% as against Sensex's 8.90% fall.

The small-cap company has an equity capital of Rs 20.40 crore. Face value per share is Rs 5.

JBM Auto announced that it has developed 100% electric bus named "Ecolife" in partnership with renowned European bus manufacturer, Solaris Bus and Coach, S.A (Solaris). The bus will be unveiled at Auto Expo 2016 at Greater Noida today, 4 February 2016.

On a consolidated basis, net profit of JBM Auto rose 18.53% to Rs 17.91 crore on 4.44% rise in net sales to Rs 378.56 crore in Q3 September 2015 over Q3 September 2014.

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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