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JBM Auto hits record high after multiple order wins

Capital Market 

JBM Auto soared 13.38% to Rs 521 after the commercial vehicle manufacturer received orders for supply of five hundred CNG/ Electric Buses.

The orders consist of supplying BS VI CNG buses for Delhi Integrated Multi-Modal Transit System, electric buses for Bengaluru Metropolitan Transport Corporation, electric buses for Jhansi Smart City and electric buses for other multiple corporate clients. The company said the orders will be executed in the current financial year.

Shares of JBM Auto rallied 16% in three trading sessions from its previous closing low of Rs 448.85 posted on 20 September. The counter hit a record high of Rs 537 intraday today. From its 52-week low of Rs 205 posted on 24 September 2020, the stock has moved 154% higher.

On the BSE, 42,371 shares were traded in the counter so far compared with average daily volumes of 5,286 shares in the past two weeks.

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).

On a consolidated basis, the company posted a net profit of Rs 12.19 crore in Q1 FY22 as compared to a net loss of Rs 25.87 crore in Q1 FY21. Net sales soared 323% to Rs 546 crore in Q1 FY22 over Q1 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 23 2021. 11:41 IST