JBM Auto shares surge 11% following 5,000 electric buses order from STUs

Shares of automaker JBM Auto rose 11.13 percent on BSE, ending intraday trading at 1,462 rupees apiece on Friday after the company won orders for 5,000 electric buses from State Transport Undertakings (STUs) in the states of Gujarat, Haryana, Delhi and Telangana, Orissa among others.

“Different applications such as city bus, staff bus, runway bus, etc. will be delivered in both 9-meter and 12-meter categories for these orders,” the company said in a press release on Thursday. The company added, “The company is well-positioned to consolidate its position as an end-to-end electric mobility solution provider with locally developed vehicle technology, battery technology and charging solutions.”

JBM automaker specializes in the manufacture of systems for automobiles, electric vehicles, and buses. The company sells sheet metal components, tools, molds, and buses, including the sale of spare parts, accessories, and bus maintenance contracts.