Order to build 2000 electric buses, shares rocket, company has strong plans

Order to build 2000 electric buses, shares rocket, company has strong plans

JBM Auto Share: Shares of JBM Auto Ltd were in focus today on Monday. Shares of the company rose up to 4% today and traded at Rs. An intraday high of 2100 was reached. There is a big order behind this rise in shares. In fact, the company informed the exchanges that its subsidiary JBM Electric Vehicle Pvt Ltd has entered into an agreement with MUON India, a Macquarie Group company. Under this agreement, JBM intends to deploy more than 2,000 electric buses with MUON over the next few years.

What are the details?

Based on the agreement, JBM received an initial order for 43 buses in April, 2024 and delivery of the buses started just one month from the date of order. Besides, the company has managed to complete the delivery by June 10, 2024. Macquarie Group has launched an EV financing platform for India called ‘Vertelo’, which will offer financing, fleet management and charging infrastructure solutions.

In a relief news for mutual fund investors, SEBI issued a notification

Corporate planning

Speaking to CNBC-TV18, the company’s vice chairman and managing director Nishant Arya said that JBM Auto is targeting a revenue target of ₹3,000 crore from its electric vehicles (EV) business for the current financial year (FY25), which is expected to touch ₹3,000 crore. . It was ₹1,750 crore in FY24. Macquarie Group has launched an EV financing platform for India called ‘Vertelo’, which will offer financing, fleet management and charging infrastructure solutions. Arya said the company is planning to deliver around 2,500 electric buses this year. Arya said there are currently no plans to list the EV business or bring in a strategic investor in the business.

IPO came in at ₹41, today price is ₹64, investors got rich in few days

Company shares

Shares of JBM Auto rose 3.62% to close at ₹2,098. The stock is up 30% so far this year and 130% over the past 12 months. At the same time, it has increased by 2,059.77% in the last five years. Since 2004, the stock has risen from Rs 5 to the current price. It has seen an increase of up to 37,000% during this period.

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