Jupiter Wagons has announced an interim dividend for the fiscal year 2024-25.
What Happened: The board of directors of Jupiter Wagons, in a meeting held on Wednesday, approved the interim dividend of ₹1 per equity share. The board has set October 7 as the record date for payment of the dividend.
This is the first interim dividend that the company has announced for the current financial year. In February, the company announced a dividend of ₹0.30 per equity share for the year 2023-24.
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The company on Tuesday announced a strategic transformation of its subsidiary, Bonatrans India Private, which has been renamed Jupiter Tatravagonka Railwheel Factory Private. Alongside the renaming, the company also revealed plans for a significant capacity expansion for this subsidiary, marked by the establishment of a new manufacturing facility in Odisha.
The new plant, equipped with advanced production lines for forged wheelsets, is expected to increase the annual production capacity from the current 20,000 forged wheelsets to 100,000 forged wheelsets per annum by 2027.
Price Action: Shares of Jupiter Wagons were trading flat at ₹534.35 on Wednesday.
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