The shares of JBM Auto Limited, the auto ancillary firm, rallied 4.93% to an intraday high of ₹1,720 per share, after the company reported that it has secured an order from Ahmedabad BRTS, Ahmedabad Municipal Transport Service, for 343 buses worth ₹1,800 crore.
“We hereby inform that JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been awarded the contracts as a bus operator for Procurement, Operation and Maintenance of 343 Electric Buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service under Gross Cost Contracting [GCC] and some leading Corporates,” the company said in an exchange filing.
As per the terms of the order, the company’s subsidiary JBM Ecolife Mobility will work as the bus operator for the procurement, operation and maintenance of the 343 electric buses for Ahmedabad BRTS.
On Monday, the stock closed 1.47% higher at ₹1,663.35 per share as compared to the previous close of ₹1,639.25 per share on the National Stock Exchange.
Summary: JBM Auto wins order for 343 electric buses worth ₹1,800 crore, from Ahmedabad Municipal Transport Service. Shares gain nearly 5%.
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