JBM Auto spurts on bagging order for CNG buses

JBM Auto jumped 5.83% to Rs 244.90 after the company said it bagged an order from Delhi Integrated Multi-Modal Transit System (DIMTS) for supplying 116 BS6 AC low floor CNG buses.

JBM Auto will be supplying 116 Citylife BS6 buses to operator which will be running under the DIMTS Cluster in New Delhi. Deliveries of the first batch of these buses shall start this month end onwards, the company said during trading hours today, 14 September.

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 company reported a consolidated net loss of Rs 25.87 crore in Q1 FY21 as compared to a net profit of Rs 17.11 crore in Q1 FY20. Net sales during the quarter slumped 75.2% YoY to Rs 129.08 crore.

Currently, the stock is trading 17.29% below its 52-week high of Rs 296.1 hit on 23 December 2019. It has surged 150.92% from its 52-week low of Rs 97.6 hit on 25 March 2020.

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