Jupiter Wagons chugs higher on bagging Rs 100-crore order from auto major

Jupiter Wagons

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Shares of Jupiter Wagons rose 1.4 percent in the early trade on January 8 after the company received an order worth Rs 100 crore from an automobile manufacturer.

At 9:35am, Jupiter Wagons was quoting at Rs 347.35, up Rs 4.75, or 1.39 percent, on the BSE.

"We have received a significant contract from one of the leading automobile manufacturers for the manufacturing and supply of four rakes of double-decker automobile carrier wagons worth around Rs 100 crore," the company said in a press release.

These tallest double-decker automobile carrier wagons will be able to carry SUV editions on both bottom and top deck and come with a host of advanced technologies like articulated bogies and reduced idling time on account of sick wagon substitution, the company said.

Such wagons are being introduced to the Indian Railways for the first time considering the maximum moving dimensions which not only suits the dedicated freight corridor (DFC) but will also comply with a large section of the available national railway network, it added.

"This achievement not only highlights our manufacturing prowess but also reinforces our commitment to contributing to the nation's railway infrastructure development. We are ready to leverage our expertise and resources to deliver these wagons, ensuring they meet the highest standards of quality and performance,” said Vivek Lohia, managing director of Jupiter Wagons.

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On January 4, the company won a Rs 473-crore a contract from the defence ministry for 697-boggie open military (BOM) wagons.

In December, the Ministry of Railways (Railway Board) awarded an order to manufacture and supply 4,000 BOXNS wagons for a contract value of Rs 1,617 crore.

The share touched a 52-week high of Rs 412.50 and a 52-week low of Rs 85.37 on 06 September 2023 and 28 March 2023, respectively. Currently, the stock is trading 15.79 percent below its 52-week high and 306.88 percent above its 52-week low.