Jupiter Wagons Ltd. said its wholly owned unit, Jupiter Tatravagonka Railwheel Factory, has won a ₹215 crore ($25.8 million) contract to supply 5,376 wheelsets for India’s Vande Bharat high-speed trains. The order expands the company’s role in the government’s flagship passenger-rail programme, which seeks to increase the number of semi-high-speed services across the country. Investors welcomed the deal. Jupiter Wagons’ stock on the National Stock Exchange climbed as much as 13% in Thursday trading, before paring some gains, amid heavy volumes. The company has been broadening its product mix beyond freight wagons, and analysts said the latest order could lift revenue visibility and support margins in the current fiscal year.
Sources
Markets TodayJupiter Wagons Ltd. announced that its subsidiary, Jupiter Tatravagonka Railwheel Factory, received a ₹215 crore order for 5,376 Vande Bharat train wheelsets. This supports India's high-speed rail ambitions.
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