Multibagger EV Stock Jumps Over 4 Per Cent As Board Likely To Announce Stock Split
The stock gave multibagger returns of 330 per cent in just 2 years; 625 per cent in 3 years and a whopping 1,900 per cent in 5 years.
Today, shares of JBM Auto Ltd jumped over 4 per cent to an intraday high of Rs 1,782 per share from its previous closing of Rs 1,710.35 per share. The stock’s 52-week high is Rs 2,417.30 and its 52-week low is Rs 1,113.70.
JBM Auto Ltd informed that the Board of Directors of the company will hold a meeting on Monday, October 28, 2024, inter-alia, to:
- Consider and approve the Un-Audited Financial Results (Standalone & Consolidated) for the 2nd Quarter and half year ended September 30, 2024.
- Consider and approve the proposal of stock split/sub-division of the company's equity shares having a face value of Rs 2 each and matters related thereto, in such manner as may be determined by the Board of Directors, subject to such regulatory/ statutory approval as may be required, including the approval of shareholders of the company.
Earlier, JBM ECOLIFE Mobility, a leading electric bus manufacturer, secured USD 100 million in strategic funding from ADB and AIIB. This investment will be used to supply and operate electric buses under the Gross Cost Contract model in various Indian states. The funding aligns with JBM's mission to promote green public mobility in India and reflects the company's commitment to environmental sustainability. JBM has already deployed over 1,500 electric buses across India and has a robust order book of 6,500+ buses. With its world-class manufacturing facility and innovative electric buses, JBM is leading the way in transforming public transportation in India.
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About JBM Auto Ltd
JBM Auto Ltd, founded in 1983, is a major player in the automotive industry, manufacturing and selling a variety of products including sheet metal components, tools, buses and electric vehicles. Their business covers not only the vehicles themselves but also spare parts, accessories and maintenance contracts.
The company has a market cap of over Rs 20,000 crore. The stock gave multibagger returns of 330 per cent in just 2 years; 625 per cent in 3 years and a whopping 1,900 per cent in 5 years. Investors should keep an eye on this multibagger EV-stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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