{"id":104636,"date":"2023-06-28T13:13:42","date_gmt":"2023-06-28T07:43:42","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104636"},"modified":"2023-06-28T13:13:43","modified_gmt":"2023-06-28T07:43:43","slug":"auto-ancillary-stock-jumps-nearly-8-after-change-in-status-of-its-subsidiary-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/auto-ancillary-stock-jumps-nearly-8-after-change-in-status-of-its-subsidiary-company\/","title":{"rendered":"Auto ancillary stock jumps nearly 8% after change in status of its subsidiary company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1246093663\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of JBM Auto Limited zoomed nearly 8 percent today and the scrip currently trades at Rs 1,161. The stock recorded an intra-day high today at Rs 1,164.90 which also emerges as its new 52-week high mark.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2202043753\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Keeping a purview of six months, the company\u2019s stock has been successful in delivering multibagger returns of around 122 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 2.22 Lakhs within a period of six months.&nbsp;<\/p><p>The stock movements are witnessed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), informed that JBM Ecolife Mobility Private Limited (JBMEco), a wholly-owned subsidiary of the company, has changed its status becoming the subsidiary company with effect from 26th June 2023.&nbsp;<\/p><p>The private entity made a preferential allotment to Mr. Nishant Arya, Individual Promoter of JBM Auto making the equity shareholdings touch 83 percent.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4173344346\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/JBMA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">JBM Auto<\/a><\/strong> plans to deploy around 5,000 E-buses across India by the end of FY23-24 and for the purpose of fulfilling the same, the company would invest nearly Rs 500 crores for building their capacity and improving the technology.\u00a0<\/p><p>The latest financials reported have observed opposing movements as far as the operating revenues and net profits are concerned. On one hand, the operating revenues have increased from Rs 3,193 crores during FY21-22 to Rs 3,857 crores in FY22-23, and net profits, on the other hand, have seen a fall from Rs 166 crores to Rs 124 crores during the same period.&nbsp;<\/p><p>The shareholding data exhibit the Promoters holding a 67.53 percent stake, and Foreign Institutional Investors (FIIs) holding a 1.66 percent stake in the company.&nbsp;<\/p><p>JBM Auto Limited is an auto ancillary company engaged in the business of manufacturing toolings, components, etc. The company generates a majority of revenues from the latter division mentioned which manufactures automobile parts used in the passenger as well as commercial vehicles.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-379288221\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of JBM Auto Limited zoomed nearly 8 percent today and the scrip currently trades at Rs 1,161. The stock recorded an intra-day high today at Rs 1,164.90 which also emerges as its new 52-week high mark.&nbsp; Keeping a purview of six months, the company\u2019s stock has been successful in delivering multibagger returns of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[9628,9627,948,936,9629],"class_list":["post-104636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-jbm-auto-latest-news","tag-jbm-auto-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-jbm-auto-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Auto ancillary stock jumps nearly 8% after change in status of its subsidiary company - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of the company zoomed nearly 8 percent today and the scrip currently trades at Rs 1,161. 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