JBM Auto soars 9%, hits 52-week high on order win from Delhi...

JBM Auto soars 9%, hits 52-week high on order win from Delhi Transport Corp

26
0
SHARE


Shares of soared 9 per cent, hitting a fresh 52-week high of Rs 350, on the BSE in the intra-day trade in an otherwise weak market after the company bagged order for supply of 700 buses from Delhi Transport Corporation. The stock surpassed its previous high of Rs 338, touched on January 11, 2021.

informed the stock exchanges that the Company has received orders for supply of 700 units of JBM ‘CITYLIFE’ fully air conditioned BS-VI CNG low-floor buses from Delhi Transport Corporation vide its Letter of award dated 15-01-2021. These orders will be executed in the coming months, it said.

In the past one month, the stock has outperformed the market by surging 33 per cent, as compared to a 4 per cent rise in the S&P BSE Sensex.

On January 6, the company said it has formed a new company, JBM Ecolife Mobility Private Limited, to leverage growth opportunities in the electric vehicles segment. JBM Ecolife Mobility belongs to automotive sector and yet to commence its business operations. The incorporation of JBM Ecolife Mobility will leverage the growth opportunities in the evolving Emobility/ Electric Vehicles Segment including e-buses etc. and will help the Company in becoming more agile and customer-focused, the company had said.

At 12:25 pm, was trading 5 per cent higher at Rs 336 on the BSE, as compared to a 0.81 per cent decline in the S&P BSE Sensex. A combined 284,000 equity shares changed hands on the counter on the NSE and BSE till the time of writing of this report.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



Source link

LEAVE A REPLY