JBM Auto stock soars ~4% on incorporation of 3 indirect wholly owned subsidiary companies

6 Jan 2022 , 10:16 AM

JBM Electric Vehicles Private Limited, a wholly-owned subsidiary of JBM Auto Limited has fully incorporated three wholly-owned subsidiaries, JBM Electric Technologies Private Limited, JBM Green Technologies Private Limited, and JBM Eco Tech Private Limited.

The paid-up capital of each incorporated company is Rs50,000/- (5,000 equity shares of Rs10/- each.

“The companies have been incorporated to carry on the business in the automotive sector and yet to commence its business operations,” the company said in a filing on Wednesday.

At around 10.20 am, JBM Auto Ltd was trading at Rs1,276.80 per share up by Rs46.55 or 3.78% from its previous closing of Rs1,230.25 per share on the BSE.

The scrip opened at Rs1,212.35 and has touched a high and low of Rs1,285 and Rs1,210.05 respectively.