This electric bus manufacturer is extending gains after a 200% rally in 2023
In a recent chat with CNBC-TV18, JBM Auto said it will surpass ₹5,000 crore of revenue this year, with nearly one-third of it coming in from the e-buses segment.
Delhi-based electric bus maker JBM Auto's shares continued to ascend, building on the impressive 200% surge from last year. The stock was up nearly 4.5% at around ₹1,691 apiece at noon.
While average traded volumes in the overall market were low, JBM Auto saw average trading volume of nearly 3.5 times.
In fact, delivery stats for January 1 were nearly five times of what those seen in all of December, with 2.75 lakh shares marked for delivery compared to December average of around 56,000 shares.
In an interview with CNBC-TV18 in December, JBM Auto said it will surpass ₹5,000 crore of revenue this year, with nearly one-third of it coming in from the e-buses segment. Of the 5,000 e-buses orders that they have, 2,000 will be delivered in this year. Around 3,000 e-buses will be delivered in the next year.
JBM Auto has a market capitalisation of ₹17,018.72 crore. The stock has gained close to 35% in the past month and more than 21% over the last six months.
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(Edited by : Shweta Mungre)
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