Jupiter Wagons, BEML Bag Defence Ministry Contracts Worth Rs 802 Crore

Jupiter Wagons Ltd. and BEML Ltd. secured orders worth Rs 802 crore from the Defence Ministry on Thursday.

The railway freight producer won a contract for manufacturing 697 Bogie Open Military Wagons for Rs 473 crore, and BEML secured orders for 56 mechanical minefield marking equipment mark II for Rs 329 crore, the defence ministry said in a statement.

The orders will be manufactured with equipment that is sourced from indigenous manufacturers, it said. This will give a "boost to indigenous manufacturing and the participation of the private sector in defence production," it said.

BOM wagons are used to transport light vehicles, artillery guns, and engineering equipment from their peacetime locations to operational areas. While the MMME has been designed to operate cross-country with a complete load of stores and carry out the marking of minefields with minimal time and manpower employment.

Shares of Jupiter Wagons surged after the order win and closed 4.9% higher at Rs 333.6 apiece. BEML stock also closed 3.19% higher at Rs 2,905 apiece. This compares to a 0.66% advance in the NSE Nifty 50.