Shares of JBM Auto Ltd surged 5% on Monday, 23 December, after the company announced securing an order worth Rs 1,800 crore for 343 electric buses for Ahmedabad BRTS from Ahmedabad Municipal Transport Service. 

In its regulatory filing, the company said, “We hereby inform that JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been awarded the contracts as a bus operator for Procurement, Operation and Maintenance of 343 Electric Buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service under Gross Cost Contracting [GCC] and some leading Corporates.”  

As a part of the order, JBM Ecolife Mobility, a subsidiary/Joint Venture of JBM Auto Limited, will work as a bus operator for the procurement, operation, and maintenance of 343 buses for Ahmedabad BRTS. 

JBM Group specializes in manufacturing electric buses and boasts a diverse portfolio that includes automotive, engineering and design services, renewable energy, railways, and original equipment manufacturing (OEM). The Group operates 40 manufacturing facilities and 4 engineering and design centers across 18 global locations.

Its auto component division caters to prominent clients such as Ford, General Motors, Ashok Leyland, Bajaj Auto, Maruti Suzuki, Renault, Nissan, Fiat, Honda, Hero, JCB, Mahindra, TATA, Volvo-Eicher, Toyota, TVS, Volkswagen, and numerous others.

At 2:33 pm, the shares of JBM Auto were trading 1.20% higher at Rs 1,659 on NSE. 

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