Multibagger railway stock hits upper circuit on 241% rise in Q2 profit

Shares of multibagger Jupiter Wagons Ltd hit upper circuit of 5% today after the railway sector firm reported a 241% rise in September quarter profit.  Net profit zoomed to Rs 82.1 crore in the September 2023 quarter against Rs 24.1 crore in the September 2022 quarter. Revenue surged 112% to Rs 885.1 crore in the September 2023 quarter against Rs 417.7 crore in Q2 of the previous fiscal. Jupiter Wagons shares were stuck in the upper circuit of 5% at Rs 324.85 in early deals on Monday against the previous close of Rs 309.40 on BSE. Jupiter Wagons stock has gained 334% in a year and risen 237 per cent in 2023.

Total 0.91 lakh shares of the firm changed hands amounting to a turnover of Rs 2.95 crore on BSE today. The market cap of the firm rose to Rs 12,977 crore on BSE.

The stock touched a 52-week high of Rs 412.50 on  September 6, 2023 and a 52-week low of Rs 71.05 on November 3, 2022.

Jupiter Wagons stock has a one-year beta of 1.0, indicating high volatility during the period.

In terms of technicals, the relative strength index (RSI) of the firm stood at 50.2, signaling it's trading in the neither in the overbought nor in the oversold zone.

Jupiter Wagons shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

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Jupiter Wagons reported a 143.75% rise in profit to Rs 120 crore for the fiscal ended March 2023 against Rs 50 crore for the fiscal ended March 2022. Revenue zoomed 75.45% to Rs 2073 crore in the last fiscal against Rs 1181.75 crore for the fiscal ended March 2022.

Jupiter Wagons is engaged in the business of manufacturing of railway wagons, passenger coaches, 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.

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