- Jupiter Wagons shares rose up to 9.36% after a Rs 1,140 crore railway order
- The company will supply 2,583 BOXNHL and BOXNS wagons under the Railway Board order
- Order value averages around Rs 44 lakh per wagon including taxes
Shares of Jupiter Wagons Ltd. rose as much as 9.36% to Rs 198 apiece in early trade on Thursday, after the company won an order worth Rs 1,140 crore from the Ministry of Railways.
The stock pared some of the gains, and was trading 7.83% higher at Rs 195.23 apiece as of 9:56 a.m. on the NSE, compared with a previous close of Rs 181.05.
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The rolling stock maker will manufacture and supply 2,583 wagons of two types, BOXNHL and BOXNS, under the order from the Railway Board, according to an exchange filing. The order value includes taxes, and works out to roughly Rs 44 lakh per wagon.
The company said the order “reflects the company's sustained execution record” on Indian Railways' wagon procurement programme.
Jupiter Wagons expects incremental order inflows of about Rs 2,000 crore in the January–March quarter. It said its private sector order book remains strong, with steady demand from private freight operators, wagon leasing companies and core sector customers. The company also pointed to the railways ministry's recent tender for 5,800 BOBRN wagons as a boost to the sector's near-term demand outlook.
“Indian Railways is adding freight capacity at a scale and pace this country has not seen before, and this order reflects the Ministry's continued confidence in our ability to deliver,” said Vivek Lohia, managing director of Jupiter Wagons.
Lohia said the company has integrated backward across the wagon value chain, from castings and bogies to couplers and brake systems, and is now extending this to wheelsets through its facility in Odisha. “That gives us greater control over cost, quality and delivery timelines,” he said.
The company said the order supports the government's goal of raising the railways' share of freight movement under the National Rail Plan.
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