EV stock reaches 52-week high: Boom of 17% records after order of 5000 E-buses

On Friday morning's early trading, shares of this auto accessory company increased 17% to a new 52-week high of 1,539.60 per share on the National Company Exchange (NSE). This took place following a sizable purchase of 5,000 electric buses. The company's shares were up 11.25 per cent to 1464.00 per share as of 12:45 PM.

JBM Auto informed the stock exchanges and other interested parties that it and its subsidiaries had received orders for roughly 5,000 e- buses that would be provided to different STUs in the states of Haryana, Gujarat, Telangana, Delhi, and Orissa, among other places, along with several Fortune 500 companies and top Indian corporations. For these orders, the company will provide a variety of applications, including municipal buses, staff buses, tarmac coaches, and so forth, in both the 9 metres and 12 metres categories. 

With its own developed vehicle technology, battery technology, and charging systems, the firm is well-positioned to solidify its position as a provider of end-to-end electric mobility solutions. It is poised to meet the needs of the developing markets for electric mobility, expanding its market share and opening up new market opportunities. 

JBM Auto works in the automobile industry. It produces and distributes sheet metal parts, tools, dies, and moulds for buses, as well as selling accessories, replacement parts, and maintenance agreements for buses. 

JBM Auto has a market valuation of 15,561 crores, making it a small-cap firm. Its debt-to-equity ratio is 1.65 and its return on equity is only 12.92 percent. The price-to-earnings ratio (P/E) of its shares was 124.62, which is much higher than the industry P/E of 43.47 and suggests that the company may be overpriced in comparison to its competitors.

According to the business's ownership structure, its promoters own 67.53 per cent of the company, followed by retail investors with a stake of 30.79 per cent, foreign institutions with a stake of 1.66 per cent, and mutual funds with a stake of 0.02 per cent. The company's share price surged by 254 per cent in the previous year, generating multi-bagger gains. Therefore, if a shareholder had bought 1 lakh shares of the corporation a year ago, their holdings would now be worth 3.54 lakhs.