JBM Auto shares caught tremendous pace in Friday’s business session. The company’s shares rose close to 12% on this day to reach a day high of Rs 696.70. The stocks rose when its subsidiary JBM Echolfe Mobility received an investment of $ 100 million, or about 830 crore rupees from the International Finance Corporation (IFC) under the World Bank Group.
What is this investment and for whom?
The objective of this investment is to procure and operate 1,455 AC E-Buses in three states Maharashtra, Assam and Gujarat. The company said that these buses will be used in public transport systems, which will not only provide convenience to those traveling but will also have a positive impact on the environment.
The company said that due to this project, 1.6 billion kilograms of Co₂ emissions will be reduced. It is possible to save about 600 million liters from the consumption of diesel. Also, about 5,500 people will get employment through this investment and deployment. The Government of India schemes such as ‘Pradhan Mantri Ebus Seva Yojana’ and support of state transport agencies are strengthening such projects.
Company order book
JBM Auto has already run more than 2,500 ebits at ten states and fifteen airports of India, and they have an order book of 11,000 buses. His annual production capacity of manufacturing plant in Delhi is about 20,000 buses.
JBM Auto Share Price History
The company’s shares have fallen by 30% in the last one year. At the same time, the shares have seen positive trend from back. In the last one month, the stocks have seen a rise of 15%, while in 6 months the stock has shown a gain of 36%. But in the long term, the stock has given great benefit to its investors and in the last 5 years the price of this stock has increased by 1395%.
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