JBM Auto shares were stuck in the 5% upper circuit at Rs 1,565.20, hitting a new high on BSE in Tuesday’s trade in an otherwise limited market. The automaker’s stock traded higher for the fourth day in a row, jumping 27% in the period.

Until 10:31 am; A total of 123,000 shares had changed hands and there were pending buy orders for around 16,000 shares on the NSE and ESB.

Over the past two months, the market price of JBM Auto has risen 123%, compared to 0.87% for the S&P BSE Sensex. Over the past year, the stock has gained 392%, compared to a 23% increase in the benchmark.

On Monday January 10, 2022, JBM Auto announced the acquisition of 51% of the capital of JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited via its subsidiary JBM Electric Vehicles Private Limited.

After the stake, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited became indirect subsidiaries of JBM Auto Limited, the company said.

JBM Green Energy is engaged in the manufacture of complete lithium-ion battery packs for electric vehicles, thus striving to set new location benchmarks for the manufacture of electric vehicles, as stated in various government policy initiatives. With the same goal of improving indigenization, JBM EV Industries manufactures key automotive aggregates and systems for electric vehicles.

JBM Auto’s 100% electric ECOLIFE buses were already operating in various states such as Karnataka, Gujarat, Delhi-NCR region, Maharashtra, Andaman and Nicobar, etc. infra to maintenance and support, thus providing optimal value to its customers.

The future of mobility in India and around the world is rapidly evolving to become more electrified and environmentally friendly, while delighting end users with superior experiences. The pace of progress is particularly rapid and exciting in the area of ​​electric vehicles, with a particular focus on public transport also contributing the highest percentage of FAME II policy, the company said. Company management is cautiously optimistic for FY 22 due to higher spending on infrastructure, the PLI program, the scrapping policy and the work done so far within the company.

Meanwhile, the company’s board of directors on December 8, 2021 approved a proposal to subdivide shares with a par value of Rs 5 into a par value of Rs 2 each on the date of registration. The equity division aims to facilitate the liquidity of the company’s shares in the stock market, broaden the shareholder base and make stocks affordable for small investors, JBM Auto said of the rationale for the division.

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