Jupiter Wagons shares surge 5% on bagging ₹1,617 cr railway order

Shares of Jupiter Wagons Limited surged as much as 4.7% to hit a high of ₹344 apiece on the BSE, a day after the company bagged an order worth ₹1,617 crore from the railway ministry for 4,000 BOXNS wagons.

The scrip opened higher on Friday at ₹339.75, up 3.2% as against the previous closing price of ₹329.15. At 10:55 am, the share price of the mobility solutions provider was trading 1.85% higher at ₹335.25. This is in line with the broader BSE Sensex, which was trading 382.28 points or 0.54% higher at 70,896.48. The company’s market capitalisation in early trade stood at ₹13,813.90, with more than 2.63 lakh shares exchanging hands on the BSE, as against the two-week average of 2.14 lakh shares.

In the past one month, three months and one year, the counter has given 33.25%, 43.32% and 117.80% in returns, respectively. In the year-to-date period, the counter has given 16.06% in return.

“Bharat Heavy Electricals Limited (BHEL) and Central Manufacturing Technology Institute (CMTI), an autonomous Institution under the administrative control of the Ministry of Heavy Industries, Govt. of India; have entered into a Memorandum of Understanding (MoU) for collaboration on technology development in the areas of Hydrogen value chain and IIoT solutions for predictive maintenance of machines & manufacturing processes,” the company says in a regulatory filing.

The development comes a month after the state-run company bagged an order worth ₹2,956 crore from the ministry of defence to procure super rapid gun mount (SRGM) and accessories for the Indian Navy. The company also signed a memorandum of understanding with Electrite de France S.A. France (EDF), which is the largest nuclear operator globally to maximise the local content of the Jaitapur Nuclear Power Plant Project to be established by NPCIL in India.