Indian busmaker JBM Auto jumps after unit gets $904 mln order

Jbm Auto

19/03/2024 05:36

** Shares of India's JBM Auto  JBMA.NS  up 5.3%, easing from
session-high climb of 10% 
    ** Busmaker said unit got order worth 75 billion rupees
($904 million) for supply of 1,390 electric buses
    ** As of Friday's close, co had logged three straight weekly
losses 
    ** Broader Nifty Auto  .NIFTYAUTO  index, which JBMA is not
part of, down 0.9%  
    ** YTD stock has risen 35% after ~184% surge in 2023, which
was its third consecutive year of gains 

($1 = 82.9430 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))