1,300 per cent returns and FIIs & DIIs increase stake: This multibagger railway stock secures major defence contract and bags orders worth Rs 573 crore!
Shares of the company gained more than 90 per cent in the last six months.
Jupiter Wagons, a leading provider of transportation solutions in India, has made significant strides in both the defense and automobile sectors in recent weeks. Jupiter Wagons announced a major contract with the Ministry of Defense to manufacture and supply 697 Bogie Open Military (BOM) Wagons, valued at Rs 473 crores. These specialized wagons play a crucial role in transporting military assets to operational areas, ensuring swift mobilization and efficient movement of troops and equipment. This landmark contract aligns with India's Atmanirbhar Bharat initiative, promoting self-reliance and indigenous production in the defense sector.
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Furthermore, Jupiter Wagons unveiled another groundbreaking development – the tallest Double Decker Automobile Carrier Wagons ever introduced in India. These wagons, valued at around Rs 100 crores, are designed to carry SUVs on both decks and boast advanced features like articulated bogies and reduced idling time.
This innovation caters to the growing demand for efficient and safe transportation of automobiles, particularly SUVs. The wagons' compatibility with both Dedicated Freight Corridors and a large portion of the national railway network further enhances their versatility and potential impact.
Jupiter Wagons Limited (JWL) incorporated in 2006, was a part of the Kolkata-based Jupiter Group and a leading player in the Indian railway wagon manufacturing industry. The company has also delivered multibagger returns of over 1,300 per cent in the last three years. FIIs and DIIs increased their stake in the company in December 2023 respectively.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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