JBM Auto surged 2.69% to Rs 45.80 at 12:51 IST after the company said it has signed a joint venture with Ashok Leyland to supply sheet metal components.
The stock hit a high of Rs 46 and a low of Rs 41.05 so far during the day. The stock had a 52-week high of Rs 78.85 on
The company’s current equity is Rs 10.20 crore. Face value per share is Rs 10.
The current price of Rs 45.80 discounts its Q3 December 2007 annualised EPS of Rs 11.45, by a PE multiple of 4.
The joint venture company (JVC) will set up state of art facilities at Pant Nagar, Uttarakhand at an estimated investment of Rs 100 crore. Ashok Leyland, a commercial vehicle giant, is setting up integrated facilities at Uttarakhand. JBM Auto will hold 74% while Ashok Leyland will hold 26% in the JVC.
JBM Auto’s net profit rose 158.4% to Rs 2.92 crore on 34.8% rise in net sales to Rs 46.49 crore in Q3 December 2007 over Q3 December 2006.
The company is engaged in manufacturing and marketing automotive components. The company operates in three segments namely sheet metal division, SPV division and tool room division.
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