JBM Auto’s stock has seen a decline of 1.01% today, trading at ₹687.70 as of 10:07 AM on the NSE, after closing at ₹694.75 in the previous session. The dip follows a sharp 17% gain over the past three sessions, reflecting broader caution in the auto and electric vehicle (EV) related mid-cap stocks.
The stock’s high for the day reached ₹697.45, while the low was ₹682.55, indicating a slight pullback after the recent surge in its value.
Shares of electric bus manufacturers JBM Auto Ltd. and Olectra Greentech Ltd. saw a significant rise of up to 10% on April 16, following reports that the Indian government is preparing to launch a tender to procure 10,000 electric buses.
Sources informed CNBC-TV18 that the tender would be issued under the PM E-Drive scheme next month, with Convergence Energy Services Ltd. (CESL) managing the process.
The government plans to provide a subsidy of around ₹3,000 crore for this initiative, which will cover intra-city electric bus operations across nine major cities, including Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Surat, Ahmedabad, New Delhi, and Kolkata.
JBM Auto, a company specialising in automotive manufacturing, including sheet metal components, tools, dies, moulds, and buses, reported an 8.2% increase in consolidated net profit, reaching ₹52.64 crore in Q3 FY25, compared to ₹48.66 crore in Q3 FY24. Additionally, net sales grew by 3.7% year-on-year, totalling ₹1,396.15 crore for the quarter.
The recent 10% jump followed by a 1.01% drop highlights the inherent fluctuations in the market, often influenced by broader trends in the automotive and electric vehicle sectors. Despite this, the company’s positive quarterly results, including an 8.2% increase in net profit, reflect its solid performance.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Apr 17, 2025, 10:32 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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