New Delhi, Sep 23 (PTI) Shares of JBM Auto on Thursday zoomed over 12 per cent after the company said it has received orders for the supply of 500 compressed natural gas (CNG) and electric buses from various state governments.

The stock jumped 12.33 per cent to settle at Rs 516.15 on the BSE. During the day, it gained 16.86 per cent to its 52-week high of Rs 537.

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On the NSE, it rallied 12.23 per cent to settle at Rs 516.60.

The Gurgaon-based company said it has received orders for BSVI CNG buses from Delhi Integrated Multi-Modal Transit System Limited (DIMTS).

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Besides, it will be supplying electric buses for Bengaluru Metropolitan Transport Corporation (BMTC).

The company said it has also received orders to supply electric buses in Jhansi and Uttar Pradesh. Besides, several corporate clients have ordered electric buses, it added. "These orders will be executed in the current financial year," JBM Auto said in a regulatory filing.

Incorporated in 1996, JBM Auto is the flagship company of JBM Group. The company has diversified into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)