Jupiter Wagons shares fall after firm launches Rs 500-crore QIP

Shares of multibagger Jupiter Wagons Ltd are in focus today as the railway sector firm has launched a qualified institutional placement (QIP) issue to raise Rs 500 crore. The QIP issue has a size of Rs 300 crore, with an oversubscription option of Rs 200 crore. The indicative price for QIP has been fixed at Rs 315 per share, according to reports.  In the current session, Jupiter Wagons shares were trading 3.74% lower at Rs 326.85 against the previous close of Rs 339.55 on BSE. Shares of Jupiter Wagons Ltd ended 2% higher in the previous session on BSE. 

Total 0.54 lakh shares of the firm changed hands amounting to a turnover of Rs 1.81 crore on BSE today. The market cap of the firm fell to Rs 13,057 crore on BSE.    

Jupiter Wagons stock has gained 279% in a year and risen 239 per cent in 2023.    

The stock hit a 52-week high of Rs 412.50 on  September 6, 2023 and a 52-week low of Rs 81.50  on December 2, 2022.     

Jupiter Wagons stock has a one-year beta of 0.1, indicating very low volatility during the period.  

 In terms of technicals, the relative strength index (RSI) of Jupiter Wagons stands at 58.7, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Jupiter Wagons are trading lower than the 5 day, 10 day but higher than the 20 day and 30 day, 50 day, 100 day and 200 day moving averages.    

The floor price as per Sebi regulations has been fixed at Rs 331.34 per share. The indicative price is at a discount of 7.12% to the previous close of Rs 339.55 on BSE.   

Jupiter Wagons Ltd has appointed Axis Capital, Systematix, and ICICI Securities as the Book Running Lead Managers (BRLM) for the QIP.  

 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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