Jupiter Wagons’ share price was racing on Friday morning going up over 4% to hit a new 52-week high of ₹345.
What Happened: The Ministry of Defence awarded a contract worth ₹473 crore to Jupiter Wagons Limited for the procurement of 697 bogie open military (BOM) Wagons. These wagons, designed by the Research Design and Standard Organization (RDSO), serve as specialist wagons crucial for the Indian Army’s mobilisation efforts.
BOM wagons play a vital role in transporting various military assets, including light vehicles, artillery guns, BMPs (Infantry Fighting Vehicles), and engineering equipment. Their primary function is to facilitate the movement of military units and equipment from peacetime locations to operational areas.
The contracts emphasise the production of BOM Wagons with equipment and sub-systems sourced from indigenous manufacturers. This approach aims to strengthen indigenous manufacturing capabilities and foster greater private-sector participation in defence production.
Last month, the railway stock announced bagging a major contract from the Indian Railways. The ₹1,617 crore contract is for the manufacturing and delivery of 4000 BOXNS wagons.
Price Action: Jupiter Wagons’ share price was up 3.02% to trade at ₹340.90 as the markets opened on Friday.
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