JBM Auto jumps 6% on heavy volume amid Fortum EV deal buzz

The National Stock Exchange (NSE) has sought clarification from JBM Auto Limited regarding the news of JBM Auto buying stakes in Fortum' electric-vehicle charging network

JBM Auto share price today: JBM Auto share price jumped over 6 per cent in Tuesday’s session on news that the company will acquire an electric-vehicle charging network of a Finnish power company. 

 

JBM Auto share price rose as much as 6.54 per cent on the National Stock Exchange (NSE) to ₹648.50 apiece. The total traded volume at the counter on the National Stock Exchange (NSE) so far in the day stood at 7 times its 30-day average.

 

However, on a year-to-date basis, the stock has corrected y 17.17 per cent, compared to 9.04 per cent gain in the NSE Nifty 50 index. 

 

 

As of 1:09 p.m., JBM Auto erased half of the earlier gains and traded 3.89 per cent higher at ₹631.45 as compared to 0.19 per cent decline in the NSE Nifty 50 index.

 

Why did the JBM Auto share price rise today? 

  JBM Auto share price extended gains on Tuesday after a news report said that the JBM Group has signed an agreement to buy a majority stake in Fortum’s electric vehicle charging arm. The Group inked an agreement to buy a majority stake in GLIDA, the electric vehicle charging network of the Finland-based energy utility company Fortum, Mint reported on December 29.  The article also pointed out that it will be the third largest exit of a Nordic power company from Indian markets.

 

The National Stock Exchange (NSE) has sought clarification from JBM Auto Limited. The company is yet to give a response, according to latest information.    Analyst's View: Accumulation can be considered  JBM Auto has shown a strong technical setup after taking support at the 200-period weekly exponential-moving average, as clearly visible on the chart, said Jigar S. Patel, senior manager, equity technical research, Anand Rathi Share and Stock Brokers. The long-term moving average has acted as a crucial demand zone, from where the stock has witnessed renewed buying interest. The positive price action is supported by a notable surge in volumes on the weekly timeframe, indicating accumulation by stronger hands. Additionally, the Relative Strength Index (RSI) has reversed from the 40 level, which typically signals a shift from bearish to bullish momentum.   Accumulation can be considered on dips towards the ₹620 zone, with an upside target placed near 700. A strict stop-loss should be maintained at ₹570 on a daily closing basis to manage risk effectively, Patel added.  CATCH STOCK MARKET LIVE UPDATES TODAY

 

JBM Auto Financials

 

JBM Auto will release its unaudited earnings report for October–December (Q3FY26) on Jan 1, according to an exchange filing. 

 

For July–September (Q2FY26), JBM Auto reported that its net profit increased 48.19 per cent to ₹45.08 crore when compared with ₹30.42 crore in Q2FY25. During the quarter, the total income increased by 9.1 per cent YoY to ₹1,222.80 crore from ₹1,118.43 crore.

 

Wallfort Financial Services has a buy rating on the stock and a target price of ₹780.24, which implies a potential upside of 28.19 per cent from the previous close.