JBM Auto spurts on bagging order from DTC

JBM Auto jumped 5.26% to Rs 338.30 after the company bagged an order to supply 700 BS-VI CNG buses to Delhi Transport Corporation (DTC).

In a regulatory filing made on Saturday (16 October 2021), JBM Auto said that it had received orders for supply of 700 JBM 'CITYLIFE' fully air conditioned BS-VI CNG low-floor buses from Delhi Transport Corporation (Government of NCT of Delhi) vide its Letter of Award dated 15 January 2021.

"These orders will be executed in the coming months," it added.

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's consolidated net profit rose 2.2% to Rs 20.49 crore on a 6.9% increase in net sales to Rs 217.35 crore in Q2 FY21 over Q2 FY20.

On a year-to-date (YTD) basis, the stock has gained 21.58% while the benchmark Sensex has added 2.51% during the same period.

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