JBM Auto surges 9% on stock split plan, up 62% in 11 trading sessions

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Buzzing stocks | JBM Auto | Market trends
SI Reporter  |  Mumbai 
https://mybs.in/2Zj4bqg

Shares of surged 9 per cent to Rs 972.40 on the BSE in intra-day trade on Monday in an otherwise weak market after the company announced its plan for from face value of Rs 5 to a lower denomination.
The stock of auto ancillary company has zoomed 62 per cent in past 11 trading days. It had hit a record high of Rs 979.85 on Thursday, November 18, 2021. At 11:39 am; the stock was up 6 per cent at Rs 945, as compared to 1.15 per cent fall in the S&P BSE Sensex.


on Friday said that the board of directors of the company are scheduled to meet on December 8, 2021 to consider and approve the proposal of sub-division of company's equity shares having face value of Rs 5 each and matters related thereto.
A is generally undertaken to make the stock more affordable to small retail investors and increase liquidity. It refers to splitting the face value of shares, in which the number of shares of the company increases but the m-cap remains the same. Existing shares split, but the underlying value remains unchanged. As the number of shares increases, the price per share goes down.
is engaged into the business of sheet metal components, tools & dies. The company is also an Original Equipment Manufacturer (OEM) as it is engaged in the production of passenger buses.
In past two months, the stock price of the company more-than-doubled or up 111 per cent after the company received multiple orders for supply of electric buses. In comparison, the S&P BSE Sensex was up 0.02 per cent during the same period.
On November 8, 2021, JBM Auto announced that the company has received prestigious order for supply of 200 air conditioned fully built low floor electric buses of 12 meter length for Delhi Transport Corporation (DTC) under Government of India flagship Fame II (Faster Adoption and Manufacturing of Electric Vehicle) policy. Earlier on September 23, 2021, the company had received orders for supply of 500 compressed natural gas (CNG) and electric buses from various State governments.
JBM Auto became the first company in India to be ready with a BS-VI compliant 12m LF CNG bus for public transportation and Delhi became the first city in the country to add the new-age vehicles to its bus fleet. The product has been powered with the new engine which has larger capacity and distinct advantages. For instance, the vehicle can be run at lower RPMs with requisite torque output leading to higher fuel economy, the company said in FY21 annual report.
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