Shares of Jupiter Wagons Ltd would be in focus in Friday's trade after the company said it has bagged a significant contract for the manufacturing and supply of 4000 BOXNS wagons from the Ministry of Railways.
The provider of comprehensive mobility solutions encompassing rail, road and marine transportation said the contract is valued at a Rs 1,617 crore, which underscores Jupiter Wagons' commitment to delivering top-notch railway solutions.
"The order specifically entails the production of 4000 BOXNS wagons, classified as BG Bogie Open Wagon type. These wagons boast a axle load capacity of 25 tons, ensuring robust performance under varying freight conditions. The wagons exhibit a maximum speed of 86 kmph when empty and 45 kmph when loaded, ensuring efficiency and safety in transit," Jupiter Wagons said.
Jupiter Wagons commanded a market capitalisation of Rs 13,570.64 crore. On Thursday, the stock settled at Rs 329.15 on BSE, down 4.51 per cent. The multibagger stock is up 242 per cent in 2023 so far and 271 per cent in the last one year.
On the order win, Managing Director Vivek Lohia said: "This achievement not only highlights our manufacturing prowess but also reinforces our commitment to contributing to the nation's railway infrastructure development. We are ready to leverage our expertise and resources to deliver these wagons, ensuring they meet the highest standards of quality and performance."
Jupiter Wagons, Lohia said, remains dedicated to supporting the railway modernization efforts.
"Jupiter Wagons' successful bid aligns seamlessly with the Government of India's ambitious plan to bolster the share of Indian Railways' freight traffic. This strategic initiative is a pivotal step toward achieving the government's overarching goal of procuring a substantial number of wagons. The recent tenders awarded are integral components of Indian Railways' long-term strategy to elevate the share of freight traffic carried by rail from the existing 27 percent to an impressive 45 percent by the year 2030," it said.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today