Shares of JBM Auto closed 16% higher after the firm said its subsidiary won a massive order for 1,021 electric buses worth Rs 5,500 crore. JBM Auto shares ended 16% higher at Rs 658.85 against the previous close of Rs 566.45 on BSE. Market cap of JBM Auto rose to Rs 15,282 crore on BSE. Total 0.66 lakh shares changed hands amounting to a turnover of Rs 4.08 crore on BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 25.5, signaling it's trading in the oversold zone. JBM Auto stock has a one-year beta of 1.2, indicating high volatility during the period. JBM Auto shares are trading lower than the 5 day, 10 day, 100 day, 150 day, 200 day and higher than 20 day, 30 day and 50 day moving averages.
JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, received the tender for end-to-end execution of 1,021 electric buses and development of allied electric and civil infrastructure on gross cost contracting under the PM-eBus Sewa Scheme (Tender-II).
"The project will be supported by a Payment Security Mechanism (PSM), ensuring timely payments to electric bus operators and enhancing financial sustainability for industry stakeholders. These e-buses will be deployed in around 19 cities across Gujarat, Maharashtra and Haryana. The Company has received on 18th February, 2025, the Letter of Confirmation of Quantities eligible for award as issued by Convergence Energy Services Limited [CESL], said JBM Auto.
JBM Auto Limited is a manufacturer of auto systems with a presence in the e-mobility space. The company manufactures and sells sheet metal components, tools, dies and moulds and buses, including sale of spare parts, accessories and maintenance contracts of buses.