 "343 electric buses order of Rs 1,800 crore sends JBM Auto share 5% higher")
JBM Auto share price: JBM Auto share price was in demand on Monday, December 23, 2024, as the scrip moved up to 5.23 per cent to hit an intraday high of Rs 1,725 per share.
However, at 9:22 AM, the JBM Auto share was off day’s high and was trading 3.18 per cent higher at Rs 1,691.40 apiece. In comparison, BSE Sensex was trading 0.78 per cent higher at 78,653.87 levels.
The uptick in the JBM Auto share price came after the company announced that it has secured an order for 343 electric buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service, worth approximately Rs 1,800 crore.
In an exchange filing, JBM Auto said, “We hereby inform that JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been awarded the contracts as a bus operator for Procurement, Operation and Maintenance of 343 Electric Buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service under Gross Cost Contracting [GCC] and some leading Corporates.”
Under the terms of the order, JBM Ecolife Mobility, a subsidiary/Joint Venture of JBM Auto Limited, will work as a bus operator for procurement, operation and maintenance of 343 electric buses for Ahmedabad BRTS.
JBM Group is an electric bus manufacturer. With a diverse portfolio spanning automotive, engineering & design services, renewable energy, railways, and original equipment manufacturer (OEM) sectors, the Group operates across 40 manufacturing plants and 4 engineering & design centres situated in 18 locations globally.
The Group's auto component division serves notable clients such as Ashok Leyland, Bajaj Auto Ltd, Fiat, Ford, General Motors Corporation, Honda, Hero, JCB, Mahindra, Maruti Suzuki, Renault, Nissan, TATA, Toyota, TVS, Volvo-Eicher, Volkswagen, and many others.
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The market capitalisation of JBM Auto is Rs 20,089.01 crore, according to BSE. The company falls under the BSE500 category.
The 52-week high of JBM Auto is Rs 2,417.30 per share, while its 52-week low is Rs 1,387.95 apiece.