Jupiter Wagons shares in news as firm raises Rs 800 cr via QIP
In the previous session, Jupiter Wagons shares ended 0.97% higher at Rs 696 against Thursday's close of Rs 689.30 on BSE.
- Jul 15, 2024,
- Updated Jul 17, 2024 4:01 PM IST
Shares of Jupiter Wagons Ltd are in news today after the firm said it raised Rs 800 crore through a Qualified Institutional Placement (QIP). Vivek Lohia, Managing Director, Jupiter Wagons Ltd. said, "The capital raised will be majorly allocated towards establishing a forged rail wheel and axle manufacturing plant, a strategic move designed to enhance our backward integration and support our long-term growth objectives."
The floor price for QIP was fixed at Rs 689.47 per equity share.
In the previous session, Jupiter Wagons shares ended 0.97% higher at Rs 696 against Thursday's close of Rs 689.30 on BSE. Total 0.72 lakh shares of the firm changed hands amounting to a turnover of Rs 5.03 crore on BSE. The market cap of the firm stood at Rs 28,695 crore on BSE. The QIP issue opened on July 8.
The firm recorded a 156 per cent rise in its standalone net profit, at Rs 104.22 crore, in the March quarter, on account of higher income. It had reported a net profit of Rs 40.78 crore in the year-ago period. Jupiter Wagons total income during the quarter rose to Rs 1,121.34 crore from Rs 712.71 crore in the corresponding period last year. EBITDA for Q4 FY24 came at Rs 147.72 crore, up 59 per cent YoY.
The company's order book as of March 31, 2024 stood at Rs 7,101.66 crore. During the March quarter, it won three major order wins. First one was from the Ministry of Railways valued at Rs 957 crore, second was from the Ministry of Defense worth Rs 473 crore and last one was from Double Decker Automobile Carrier Wagons totaling Rs 100 crore.
Jupiter Wagons is engaged in the business of manufacturing of railway wagons, wagon components and castings in India. The company's integrated facilities are engaged in the manufacture of railway wagons, high-speed bogies and railway castings.
Shares of Jupiter Wagons Ltd are in news today after the firm said it raised Rs 800 crore through a Qualified Institutional Placement (QIP). Vivek Lohia, Managing Director, Jupiter Wagons Ltd. said, "The capital raised will be majorly allocated towards establishing a forged rail wheel and axle manufacturing plant, a strategic move designed to enhance our backward integration and support our long-term growth objectives."
The floor price for QIP was fixed at Rs 689.47 per equity share.
In the previous session, Jupiter Wagons shares ended 0.97% higher at Rs 696 against Thursday's close of Rs 689.30 on BSE. Total 0.72 lakh shares of the firm changed hands amounting to a turnover of Rs 5.03 crore on BSE. The market cap of the firm stood at Rs 28,695 crore on BSE. The QIP issue opened on July 8.
The firm recorded a 156 per cent rise in its standalone net profit, at Rs 104.22 crore, in the March quarter, on account of higher income. It had reported a net profit of Rs 40.78 crore in the year-ago period. Jupiter Wagons total income during the quarter rose to Rs 1,121.34 crore from Rs 712.71 crore in the corresponding period last year. EBITDA for Q4 FY24 came at Rs 147.72 crore, up 59 per cent YoY.
The company's order book as of March 31, 2024 stood at Rs 7,101.66 crore. During the March quarter, it won three major order wins. First one was from the Ministry of Railways valued at Rs 957 crore, second was from the Ministry of Defense worth Rs 473 crore and last one was from Double Decker Automobile Carrier Wagons totaling Rs 100 crore.
Jupiter Wagons is engaged in the business of manufacturing of railway wagons, wagon components and castings in India. The company's integrated facilities are engaged in the manufacture of railway wagons, high-speed bogies and railway castings.