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.
AdvertisementShares 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.
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.
Meanwhile, 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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