Jupiter Wagons' share price was racing on Friday morning going up over 4% to hit a new 52-week high of ₹357.50.
What Happened: The railway company late last week informed that it had landed a major contract from a premier automobile manufacturer. The contract, valued at around ₹100 crore, pertains to the manufacturing and delivery of four sets of innovative Double Decker Automobile Carrier Wagons.
This innovative wagon type can accommodate SUV editions on both decks. The wagons, equipped with state-of-the-art features like articulated bogies and reduced idling time due to sick wagon substitution, are designed to align with the dedicated freight corridor (DFC) and a major portion of the national railway network.
This contract win follows closely on the heels of another major win for Jupiter Wagons. Last week, the company announced securing a ₹473 crore order from the Ministry of Defence.
The order included the procurement of 697 bogie open military (BOM) Wagons, designed by the Research Design and Standard Organization (RDSO), which are critical for the Indian Army's mobilisation efforts.
Price Action: Jupiter Wagons' share price was up 1.34% to trade at ₹347.40 shortly after markets opened on Monday.
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