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JBM Auto shares rise 5% on Rs 1,800-crore order win 

JBM Auto shares rise 5% on Rs 1,800-crore order win 

JBM Auto shares zoomed 5.22% to Rs 1,725 against the previous close of Rs 1639.30. Market cap of JBM Auto rose to Rs 19,649 crore on BSE.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Dec 23, 2024 10:27 AM IST
JBM Auto shares rise 5% on Rs 1,800-crore order win 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.

Shares of JBM Auto Ltd rose over 5% today after the firm said its subsidiary won an order worth Rs 1,800 crore 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.

It has to be completed in within one year. JBM Auto shares zoomed 5.22% to Rs 1,725 against the previous close of Rs 1639.30 on BSE. Market cap of JBM Auto rose to Rs 19,649 crore on BSE. Total 9052 shares changed hands amounting to a turnover of Rs 1.52 crore on BSE.

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In terms of technicals, the relative strength index (RSI) of the stock stands at 49.3, signaling it's trading neither in the overbought zone nor in the oversold zone. JBM Auto stock has a one-year beta of 0.9, indicating low 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, has been awarded the contracts as a bus operator for Procurement, Operation and Maintenance of 343 (Three Hundred and Forty Three) Electric Buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service under Gross Cost Contracting [GCC] and some leading Corporates,” said JBM Auto in a communication to bourses.

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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.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Dec 23, 2024 10:27 AM IST
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