JBM Auto moves up as its arm inks pact with MUON India
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JBM Auto is currently trading at Rs. 2063.90, up by 17.25 points or 0.84% from its previous closing of Rs. 2046.65 on the BSE.
The scrip opened at Rs. 2100.05 and has touched a high and low of Rs. 2119.95 and Rs. 2050.05 respectively. So far 40831 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2417.30 on 19-Feb-2024 and a 52 week low of Rs. 915.15 on 12-Jun-2023.
Last one week high and low of the scrip stood at Rs. 2254.60 and Rs. 1874.95 respectively. The current market cap of the company is Rs. 24405.03 crore.
The promoters holding in the company stood at 67.53%, while Institutions and Non-Institutions held 3.39% and 29.08% respectively.
JBM Auto’s subsidiary -- JBM Electric Vehicles has signed an agreement with MUON India, a Macquarie Group company. Macquarie Group has launched an EV financing platform for India called ‘Vertelo’ which will offer Financing, Fleet Management and Charging Infrastructure Solutions. Under this agreement, the company intends to deploy over 2,000 electric buses (9 mtr, 12 mtr & other variants) with MUON, over the next couple of years.
Based on the agreement, JBM had received an initial order for 43 buses in April, 2024 and started to deliver the buses within just 1 month from the date of the order. Moreover, the company has successfully able to complete the delivery by June 10, 2024. This has been a remarkable feat for JBM having executed one of the fastest ever order turnaround time in the industry, showcasing company’s expertise, agility and capability in the electric bus & EV ecosystem domain.
JBM Auto is the flagship company of JBM Group.
