JBM Auto rises over 14% in three days; hits record high

JBM Auto rose 3.69% to Rs 683.60, extending gains for the third consecutive session.

Shares of JBM Auto soared 14.21% in three trading sessions from a recent closing low of Rs 598.50 hit on 3 November 2021.

The stock surged 7.35% to close at Rs 659.30 yesterday, 8 November 2021, after the company announced bagging an order for supplying 200 air conditioned fully built low floor electric buses of 12 meter length for Delhi Transport Corporation under Govt. of India Flagship Fame II (Faster Adoption and Manufacturing of Electric Vehicle) Policy.

On a consolidated basis, JBM Auto posted a net profit of Rs 12.19 crore in Q1 FY22 as against net loss of Rs 25.87 crore in Q1 FY21. Net sales soared 323.6% to Rs 546.80 crore in Q1 FY22 over Q1 FY21.

JBM Auto is the flagship company of the JBM Group. The group has a diversified portfolio with presence in multiple domains such as automotive, engineering & design services, renewable energy, railways and original equipment manufacturer (OEM).

The scrip hit an all-time high of Rs 683.60 during intraday trade.

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