Rs 7500,00,00,000 order: Multibagger auto stock rockets 10 per cent on bagging order for electric buses from Convergence Energy Services Ltd
The stock gave multibagger returns of 220 per cent in just 1 year; 1,000 per cent in 3 years and a whopping 18,000 per cent in a decade.
Today, the stock market was trading in red with Sensex Index down by 0.82 per cent and Nifty-50 Index down by 0.95 per cent. Though the market was in blood red, one multibagger auto stock rocketed over 10 per cent to an intraday high of Rs 2,065.45 per share from its previous closing of Rs 1,875.70 per share. The stock’s 52-week high is Rs 2,428.35 and its 52-week low is Rs 603.65.
The stock name is JBM Auto Ltd.
The sudden rise in the stock price of JBM Auto Ltd was due to JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Ltd, being declared as L1 and awarded the tender as a bus operator for procurement, supply, operation and maintenance of 1,390 electric buses [approx. 65 per cent] and development of allied electric and civil infrastructure on gross cost contracting [GCC] under the PM-eBus Sewa Scheme. The order is worth Rs 7500,00,00,000 and will be completed within 12-18 months.
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 Rs 23,500 crore. The stock gave multibagger returns of 220 per cent in just 1 year; 1,000 per cent in 3 years and a whopping 18,000 per cent in a decade. Investors should keep an eye on this multibagger auto stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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