Tuesday, April 23, 2024

Jupiter Wagons’ Stock Surges 10% on Major Railway Ministry Contract Win

Jupiter Wagons Ltd (JWL) share price rose sharply, hitting the upper regional limit of 10% to Rs 398 on NSE. The increase came after the company announced it had secured a major contract from the Railways. The deal includes the manufacture and delivery of 2,237 BOSM wagons, with the contract value of Rs 956.87 crore, it was disclosed in an exchange filing outside the market on Wednesday.

The railway ministry’s order on Wednesday, March 6, increases the market capitalization of Jupiter Wagons by more than Rs 16,000 crore. Shares of the company closed at Rs 362.05 in the previous Wednesday trading session on NSE.

Jupiter Vaigans 82% impact increase based on 81.46 crore 2023, October-December-December-December-December-December-December-December-Marsistry. It happened to be so

Kolkata-based Jupiter Wagons is a manufacturer of various rail wagons and accessories, including containers, commercial vehicle load bodies and commercial electric vehicles.

With ongoing expansion including brownfield expansion of Kolkata foundry capacity and greenfield expansion of Jabalpur plant, the company aims to increase its wagon production to 800 wagons/month by the end of FY24 and 1000 wagons/month in months 18 of the next, Systematics said. According to institutional equities.

“We increased carriage execution over FY24E EBITDA by 6%, and kept FY25E EBITDA largely unchanged. We also enacted FY26E cash flow and forecasted strong EBITDA and PAT CAGR of 53% and 75.4% respectively over FY23-23.” During FY26E, respectively,” it added , maintaining Buy rating on the stock with a target price of Rs 474.


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