JBM Auto rises on acquiring stake in VT Emobility
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JBM Auto is currently trading at Rs. 1231.55, up by 10.25 points or 0.84% from its previous closing of Rs. 1221.30 on the BSE.
The scrip opened at Rs. 1245.75 and has touched a high and low of Rs. 1270.00 and Rs. 1225.00 respectively. So far 5503 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.20 on 29-Aug-2023 and a 52 week low of Rs. 400.90 on 15-Dec-2022.
Last one week high and low of the scrip stood at Rs. 1270.00 and Rs. 1113.70 respectively. The current market cap of the company is Rs. 14544.40 crore.
The promoters holding in the company stood at 67.53%, while Institutions and Non-Institutions held 2.55% and 29.92% respectively.
JBM Auto has acquired 92,500 Equity Shares and 8,84,466 Preference shares from Vivek Travels, a shareholder of VT Emobility (subsidiary Company) and consequently the Company has increased its Equity Share holding from 62% to 99% in VT Emobility with effect from October 27, 2023.
The enhancing shareholding will give more power to manage the Business more efficiently. Through this acquisition the Company has acquired 37% Equity shareholding in VT Emobility.
JBM Auto is the flagship company of JBM Group.
