Rs 6,122.3 crore order book: This multibagger railway wagons company likely to announce rights issue 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), a provider of comprehensive mobility solutions encompassing rail, road, and marine transportation, informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, September 05, 2023 to consider and approve, inter alia, proposal for raising funds through the issuance of equity shares or any other equity-linked instruments or securities through a variety of equity-based instruments, such as convertible preference shares, bonds, warrants, and convertible debentures.

These instruments may be issued through private placement, qualified institutional placement (QIP), further public issue, rights issue, preferential allotment, or any other permissible mode. The decision to raise funds and the specific instrument to be used will be subject to the approval of the company's shareholders and the receipt of all necessary regulatory approvals.

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, one of the Top Gainers on BSE, shares of Jupiter Wagons Ltd were locked in a 5 per cent upper circuit to Rs 361.1 per share from its previous closing of Rs 343.95. The stock’s 52-week high is Rs 381.15 and its 52-week low is Rs 66.90.

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 stock.

Disclaimer: The article is for informational purposes only and not investment advice.