Multibagger stock JBM Auto spikes 17% in one trading session on large order for electric bus
- Shares of automaker JBM Auto received orders for supply of 500 electric busses from a few state governments and corporate clients.
- The multibagger stock has delivered 138% returns in the last one year.
- Shares of several auto component makers have rallied in the last one month.
Shares of JBM Auto were among the top gainers on Dalal Street with share price up 17% on large orders. The Gurugram-based automaker has received orders for 500 for electric buses and some compressed natural gas (CNG) buses from states including Delhi, Bengaluru and Uttar Pradesh along with other corporate clients.
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Majority of the orders are for electric buses. The move tells a lot about the shift towards clean energy and increasing demand for electric vehicles in the country.
JBM Auto is into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses.
AdvertisementMeanwhile, shares of many auto component makers and peer companies to JBM Auto have rallied in the last one month.
|Peer companies||% return in last one month|
|Motherson Sumi Systems||9%|
|Sona BLW Precision Forgings||27%|
Shares of the company ended up 12.74% at ₹513 as on September 23.
Moreover, shares of the automaker have more than doubled investors’ money in the last one year. The market capitalisation of the company stood at ₹2,454 crore.
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