Jupiter Wagons Ltd.'s share price rose 8.08% on Thursday after the manufacturer received a major order from Indian Railways. The company's arm Jupiter Tatravagonka Railwheel Factory has received a Letter of Acceptance from the Ministry of Railways, Railway Board, for an order worth approximately Rs 113 crore to supply 9,000 LHB axles.
Earlier this year, the company's subsidiary received wheelsets order for Vande Bharat Train worth crores. The company announced that its material unlisted subsidiary Jupiter Tatravagonka Railwheel received a letter of intent for supply of total 5,376 wheelsets for Vande Bharat Train for an order value of approximately Rs 215 crore.
Jupiter Wagons is a manufacturer of railway freight cars and other mobility solutions. The company's business includes producing a range of railway wagons, components for passenger coaches, and other products like commercial vehicle bodies and containers.
The scrip rose as much as 8.08% to Rs 345 apiece. It pared gains to trade 4.48% higher at Rs 333.50 apiece, as of 10:13 a.m. This compares to a flat NSE Nifty 50 Index. It has fallen 36.33% in the last 12 months. Total traded volume so far in the day stood at 3.62 times its 30-day average.
The relative strength index was at 51. Out of six analysts tracking the company, four maintain a 'buy' rating, two recommend a 'hold,' no analyst suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 17.7%
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