Vande Bharat: Jupiter Wagons share jumps 13% on Rs 215 crore wheelset order

Shares of Jupiter Wagons Ltd rose 13 per cent in Thursday’s trade after its material unlisted arm, Jupiter Tatravagonka Railwheel Factory Pvt Ltd, secured a Letter of Intent (LoI) worth around Rs 215 crore for the supply of wheelsets for Vande Bharat trains. 

The stock climbed 12.6 per cent to hit the day’s high of Rs 371.50 on BSE over its previous close of Rs 329.85. At 9:53 am, the scrip was trading 11.69 per cent higher at Rs 368.40. The counter has surged nearly 36 per cent from its 52-week low of Rs 270.20 apiece.

The LoI entails the supply of 5,376 wheelsets, marking a significant boost to its order book and reinforcing its positioning in the fast-growing rail infrastructure segment, Jupiter Wagons informed stock exchanges.

In an another stock exchange filing, the company said that its confirmed order book stood at Rs 5,972 crore, providing strong visibility for the coming quarters.

Jupiter Wagons' managing director Vivek Lohia said its Aurangabad wheelset unit is expected to clock revenues of around Rs 550 crore this year, rising to nearly Rs 1,000 crore next year. Its upcoming Odisha wheel and axle project, involving a phased investment of Rs 2,500 crore, is progressing on schedule and is projected to add Rs 2,000–3,000 crore in revenues by FY28.

The company also reported that its new mobility vertical has begun gaining traction. Jupiter Electric Mobility has commenced deliveries, opened its first showroom in Bengaluru and signed an MoU with logistics platform Pickkup for the deployment of 300 vehicles by year-end.

Among technical indicators, the scrip is trading above its 5-day, 10-, 20-, 30-, 50-, and 150-day simple moving averages (SMAs) but below 100-day and 200-day SMAs.