Introduction:
Subsidiary of leading EV company has secured a ₹1,800 crore contract for procuring, operating, and maintaining 343 electric buses for Ahmedabad BRTS. The project, under a one-year Gross Cost Contract, aims to enhance the city’s electric bus fleet.
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Share price movement of JBM Auto:
On December 23, 2024, JBM Auto Ltd opened at ₹1,725.00, up 5.22% from its previous close of ₹1,639.30. The stock reached a high of ₹1,725.00 and a low of ₹1,648.05. By 10:20 AM, it traded at ₹1,661.65, a 1.36% increase, with a market cap of ₹19,648.53 crore.
JBM Auto secures ₹1,800 crore electric bus contract:
JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been awarded a contract valued at approximately ₹1,800 crore for procuring, operating, and maintaining 343 electric buses for Ahmedabad BRTS and other corporates.
The contract, under a Gross Cost Contracting (GCC) model, is for a one-year period. JBM Ecolife will serve as the bus operator for Ahmedabad Municipal Transport Service, enhancing the city’s electric bus fleet.
The contract, awarded by Ahmedabad Janmarg Limited and leading corporates, is a domestic project. JBM Auto confirms no related-party transactions, ensuring transparency and arm’s-length dealings in securing the order.
Recent news on JBM Auto:
As of December 03, 2024, JBM Auto Ltd has partnered with Singapore-based Keppel Ltd. to tackle global challenges. The collaboration focuses on e-mobility, EV infrastructure, renewable energy, battery storage, and transport electrification solutions.
Stock performance of JBM Auto for Period of 1 week, 6 months and 1 year:
JBM Auto Ltd has experienced a 7% decline in stock value over the past week and a 22.8% decrease over the last six months. However, it shows a positive 13.9% return over the past year, reflecting long-term growth potential.
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Shareholding pattern of JBM Auto:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 67.50% | 67.50% | 67.50% |
| FII | 3.30% | 3.30% | 3.30% |
| DII | 0.10% | 0.10% | 0.10% |
| Public | 29.10% | 29.10% | 29.10% |
About JBM Auto:
JBM Auto Ltd (NSE: JBMA) is the flagship company of the $1.2 billion JBM Group, specializing in automotive, engineering, design services, and renewables, with 35 manufacturing plants and 4 engineering centers globally. It manufactures sheet metal components, tools, and SPVs.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
