JBM Auto surges 9% on stock split plan, up 62% in 11 trading sessions

The board of directors of JBM Auto are scheduled to meet on December 8, 2021 to consider and approve the proposal of sub-division of company's equity shares having face value of Rs 5 each

Shares of JBM Auto surged 9 per cent to Rs 972.40 on the BSE in intra-day trade on Monday in an otherwise weak market after the company announced its plan for stock split from face value of Rs 5 to a lower denomination.

The stock of auto ancillary company has zoomed 62 per cent in past 11 trading days. It had hit a record high of Rs 979.85 on Thursday, November 18, 2021. At 11:39 am; the stock was up 6 per cent at Rs 945, as compared to 1.15 per cent fall in the S&P BSE Sensex.