JBM Auto shares trade near 52-week high as board to consider share split
The board will meet on December 8 to consider and approve the sub-division of the company's equity shares having face value of Rs 5 each
November 22, 2021 / 12:01 PM IST
JBM Auto share price jumped over 6 percent to Rs 53.80 intraday on November 22 after the company said its board would consider a stock split proposal at a meeting on December 8.
A meeting of the board was scheduled for December 8, 2021 to consider and approve the proposal of sub-division of the company's equity shares having face value of Rs 5 each and matters related thereto, subject to regulatory and statutory approvals, the company said in an exchange filing.
JBM Auto's net profit jumped 23 percent to Rs 25.30 crore in the quarter ended September 30, 2021 from Rs 20.49 crore in the same quarter of the previous year.
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Sales rose 45 percent to Rs 752.72 crore in the quarter ended September 2021 as against Rs 517.35 crore in the year-ago period.
The stock price has been on a roll after the firm bagged an order for 200 electric buses from Delhi Transport Corporation (DTC). The order has been placed under the central government's FAME II electric vehicle policy.
The company will also supply electric buses to the Bengaluru Metropolitan Transport Corporation (BMTC). The company said it has also received orders for buses from Uttar Pradesh as well as "several corporate clients", it added.
At 11.35 am, the stock was trading at Rs 944.35, up Rs 53.80, or 6.04 percent. It has touched an intraday high of Rs 972.40 and an intraday low of Rs 923.20.