Chinese connection: This auto maker's stock has jumped 610% in 17 months

BSE-listed Goldstone has seen its stock price surging from Rs 25 a share in November 2016, when BYD partnership was announced, to Rs 182 now, giving it a market cap of Rs 9 bn

Goldstone Infratech, an obscure automobile player, has delivered 610 per cent returns to shareholders in 17 months. The trigger: Goldstone partnered China’s electric vehicle maker BYD and bagged large orders for electric buses, edging out Ashok Leyland and M&M.

Goldstone-BYD recently won orders for 290 electric buses from state transport undertakings against Tata Motors’ 190 and Ashok Leyland’s 40 buses. The BSE-listed Goldstone’s stock price has surged from Rs 25 in November 2016, when BYD partnership was announced, to Rs 177 now, taking its market cap to Rs 8.6 billion. The company had no prior experience in automobiles. In the year