Buzzing stock: JBM Auto rises 9 per cent on bagging huge orders
JBM Auto has received an order for the supply of seven hundred buses from the Government of NCT of Delhi.
The company has received orders for the supply of 700 JBM ‘CityLife’ fully air-conditioned BS-VI CNG low floor buses from Delhi Transport Corporation. These orders would be executed within the coming months. This has helped the company in making its order book robust & stronger and also, aims to improve its financials.
The company was incorporated in the year 1996. JBM Auto Ltd is a flagship company of JBM Group. The company has diversified into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses. The buses of the company are built with leading cutting-edge technology, which provides the highest levels of comfort and safety with first-in-class features.
The shares of JBM Auto were up by almost 9 per cent during the early market hours while it closed at a price of Rs 337.15 per share, which is 5.11 per cent above its previous close. The stock recorded its 52-week high of Rs 349 soon after the market opened for the day.