JBM Auto shares surge 11% following 5,000 electric buses order from STUs

Shares of auto manufacturer JBM Auto rose 11.13 percent on BSE ending the day’s trade at Rs 1,462 apiece on Friday's after the company won orders for 5,000 electric buses from the State Transport Undertakings (STUs) in the states of Gujarat, Haryana, Delhi, Telangana, Orissa among others.

‘Different applications such as city bus, staff bus, tarmac coach and others in both, 9 meters and 12 meters categories will be delivered for these orders,’ the company stated in their press release on Thursday. ‘Company is well poised to further consolidate its position as an end to end electric-mobility solution provider with indigenously developed vehicle technology, battery technology and charging solutions,’ the company added.

 

Auto manufacturer JBM specialise in manufacturing auto systems, electric vehicles and buses. The company sells sheet metal components, tools, dies & moulds and buses including sale of spare parts, accessories and maintenance contract of buses.