JBM Auto Surges 17% On Receiving Orders For CNG, Electric Buses

Shares of bus maker - JBM Auto - rose as much as 17 per cent to hit fresh 52-week high of Rs 537 after the company informed exchanges that it has received orders for supply of electric and compressed natural gas (CNG) buses. JBM Auto received order for supply of 500 CNG and electric buses from various entities.

JBM Auto received one order for supply of BS VI CNG buses for Delhi Integrated Multi-Modal Transit System Limited (DIMTS), JBM Auto said in an exchange filing. Other orders included supply of electric buses to Bengaluru Metropolitan Transport Corporation (BMTC), electric buses for Jhansi - Smart City and electric buses for multiple corporate clients.

JBM Auto shares have so far this year advanced nearly 100 per cent outperforming the Nifty which has gained over 26 per cent during the same period of time.

The Gurugram-based, JBM Auto sells buses under the brand name Citylife.

As of 12:33 pm, JBM Auto shares traded 11.47 per cent higher at Rs 512.20, outperforming the Sensex which was up 1.7 per cent.