Railway Stock Jumps 9% To Hit New 52-Week High After ₹957 Cr Order

Jupiter Wagons’ share price was racing on Thursday morning going up over 9% to hit a new 52-week high of ₹398.

What Happened: The company on Wednesday evening announced that it had secured an order worth approximately from the Ministry of Railways. The order is for the manufacturing and supply of 2,237 wagons. The order is worth around ₹957 crore.

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The announcement helped the stock jump back in the green after it sunk around 4% on Wednesday. The stock has been on a bullish ride in the past year along with other railway stocks. In the past one year, the stock has gone up over 280%. A consistent inflow of orders has supported the jump in shares.

Earlier in January the company announced bagging another order 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.

Before that, the company had received an order from the Ministry of Defence. The order worth around ₹473 crore includes 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 5.51% to trade at ₹382 as markets opened on Thursday.

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