Jupiter Wagons Shares Surge On Rs 956 Crore Order Win
Jupiter Wagons stock rose as much as 9.93% during the day to Rs 398 apiece on the NSE.
Shares of Jupiter Wagons Ltd. surged nearly 10% on Thursday after it received an order worth Rs 956 crore from the Ministry of Railways.
The West Bengal-based Wagons manufacturer bagged the order to manufacture and supply of 2,237 BOSM wagons, according to an exchange filing on Wednesday.
The company manufactures all types of railway wagons and accessories, including manufactures containers, commercial vehicle load bodies and commercial electric vehicles.
Shares of Jupiter Wagons rose as much as 9.93% during the day to Rs 398 apiece on the NSE, the highest since Feb. 7. It was trading 8.38% higher at Rs 392.4 apiece, compared to a 0.03% decline in the benchmark Nifty 50 as of 9:57 a.m.
It has risen 283.5% in the past 12 months. The total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 58.2.
Three out of the four analysts tracking the company have a 'buy' rating on the stock, and one recommends a 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 11.9%.
