3,100 per cent returns: Heavy buying witnessed in this multibagger railway stock; hits fresh 52 weeks high!

Shares of the company gained more than 90 per cent in the last six months.

Shares of Jupiter Wagons Limited gained more than 7 per cent on Monday. The stock also made a new 52-week high today. The stock has witnessed heavy buying activity from investors from the last few days. Jupiter Wagons Limited (JWL) has posted strong Quarterly Results in Q4FY24. The revenue of the company stood at Rs 1115.41 crore which grew by 56.72 per cent YoY. The operating profit of the company stood at Rs 158.95 crore which grew by 70.49 per cent on a YoY basis, while the PAT of the company stood at Rs 106.23 crore, which increased by 165.8 per cent on a YoY basis.

Recently, Jupiter Wagons has received ARAI approval for their JEM TEZ electric vehicle, making it India's first 1-ton commercial EV. This certification paves the way for commercial production with a target of 1000 vehicles in 2024-25. JEM TEZ boasts impressive features like rapid charging (0-100 per cent in 20 minutes) and a 127 km certified range, ideal for various commercial applications. This marks a significant milestone for JEM as they revolutionize the Indian commercial EV market.

JWL is currently engaged in manufacturing railway wagons, wagon components, weldable CMS crossings, and load bodies for commercial vehicles and containers. JWL has its manufacturing units located in Kolkata (West Bengal), Jabalpur (Madhya Pradesh), Jamshedpur (Jharkhand), Indore (Madhya Pradesh), and Baddi (Himachal Pradesh).

Shares of Jupiter Wagons Limited have also delivered multibagger returns of about 3,100 per cent in a three-year holding period. FIIs increased their stake in the company in March 2024. The company has an order book of Rs 7,10,166 lakh.

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.