Jupiter Wagons’ share price continued the upward tick for the third straight session as the company bagged a massive order. The JWL’s share price jumped up over 4% to hit a new 52-week high of ₹343.40.
What Happened: The railway company on Thursday evening announced winning a “landmark contract” from the Ministry of Railways, Government of India. The agreement, valued at ₹1,617 crores, mandates Jupiter Wagons to manufacture and deliver 4000 BOXNS wagons. The specific order pertains to the production of 4000 BOXNS wagons, which fall under the category of BG Bogie Open Wagon type.
These wagons are designed with a substantial axle load capacity of 25 tons, ensuring robust performance and durability under diverse freight conditions. Notably, these wagons are capable of achieving a maximum speed of 86 kmph when empty and 45 kmph when loaded, emphasising both efficiency and safety during transit.
The contract is a part of the Indian government’s ambitious blueprint to escalate Indian Railways’ freight traffic share from 27% to a significant 45% by 2030. The small-cap stock along with other railway stock has been on a meteoric rise this year. On a year-to-date basis, the JWL share price has surged up over 200%.
Price Action: JWL’s share price was up 3.20% to trade at ₹339.05 as the markets opened on Friday.
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