This electric bus maker stock jump over 9% intraday as shares trade 1:2 ex-spilt basis

The JBM Auto stock shot up as much as 9.4% to hit the day’s high of ₹824 apiece on the National Stock Exchange of India (NSE) in early deals. By 9:48 am, the stock pared some of its gains to trade at ₹800.95 apiece, up 6.3%.

In October 2024, the Board of Directors of JBM Auto had approved splitting the company’s one share of face value of ₹2 each into two shares of a face value of ₹1 each. The record date for the 1:2 stock split was set as January 31, 2025.

This sub-division of shares was approved by the shareholders of JBM Auto Ltd on Wednesday, January 29.

The momentum in JBM Auto shares was also seen after the solid earnings the company reported for the quarter ended December 2024. Its net profit grew by a better-than-expected 8.3% year-on-year in the third quarter to ₹52.42 crore compared to a net profit of ₹48.63 crore during the year-ago period.

Consolidated revenue from operations increased 3.7% to ₹1,396.15 crore as against ₹1,346.17 crore in the corresponding period of the preceding fiscal.

At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) were up 20.3% to ₹192.83 crore in the third quarter of this fiscal over ₹160.30 crore in the corresponding period in the previous fiscal. Earnings per share (EPS) for Q3FY25 stood at ₹4.45 compared to ₹4.12 in Q3FY24.

In its earnings statement, JBM Auto said that its strong order book in OEM (original equipment manufacturer) and Tool Room Division will accelerate the company's growth in FY25.