JBM hits a new high

Jay Bharat Maruti, which manufactures sheet metal components, assemblies and sub-assembles is a dedicated ancillary to Maruti Udyog. The stock is doing very well today on the back of its excellent earnings for Q4FY21.

The stock price opened almost 3.5% higher at Rs.274.50 and went on to hit an intraday high at Rs.294, going up 10.5%, hitting a new high.

The company, for Q4FY21 posted a 35% (YoY) rise in consolidated net sales at Rs.541 crore while net profit was up 105% at Rs.20 crore.

The Board also recommended a bonus of one share for every five held and also a dividend of 25% or Rs.1.25/share (FV of Rs.5) for FY21.