Rs 6,122.3 crore order book: This multibagger railway wagon company to raise Rs 7,00,00,00,000 via QIP after reporting a 385 per cent jump in net profit!
The stock gave multibagger returns of 270 per cent in just 6 months, 360 per cent in 1 year and a whopping 1,000 per cent in 2 years.
Jupiter Wagons Limited (formerly Commercial Engineers & Body Builders Co Limited, CEBBCO), inform that the Board of Directors of the Company, at its meeting, inter alia, approved the following:
Raising of funds, aggregating up to Rs 7,00,00,00,000 or Rs 700 crore through Qualified Institutions Placement (QIP) in terms of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “ICDR Regulations”) and/or any other permissible mode(s), in accordance with the ICDR Regulations and other applicable regulations, through public and/or private offerings of equity shares and/or any other convertible securities, in one or more tranches and/or one or more issuances simultaneously, subject to necessary approvals including the approval of the members of the Company and such other regulatory/ statutory approvals as may be required.
Jupiter Wagons Ltd is primarily involved in the business of manufacturing metal fabrication comprising load bodies for commercial vehicles, rail freight wagons, and components. The company has a market cap of over Rs 14,000 crore. As of June 30, 2023, the company order book stands at Rs 6,122.3 crore.
The net sales skyrocketed by 155.25 per cent to Rs 753 crore and net profit skyrocketed by 385 per cent to Rs 63 crore in Q1FY24 compared to Q1FY23. The net sales increased by 75.55 per cent to Rs 2068 crore and net profit skyrocketed by 142 per cent to Rs 121 crore in FY23 compared to FY22.
On Friday, shares of Jupiter Wagons Ltd plunged 1.18 per cent to Rs 376.5 per share with an intraday high of Rs 496 and an intraday low of Rs 370. The stock’s 52-week high is Rs 412.5 and its 52-week low is Rs 66.9.
The stock gave multibagger returns of 270 per cent in just 6 months, 360 per cent in 1 year and a whopping 1,000 per cent in 2 years. Investors should keep an eye on this railway wagons company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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