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Jupiter Wagons continues bullish run; rail freight stock hits 52-week high after strong Q4 results
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The Street remains bullish on Jupiter Wagons as the firm reported an over two-fold jump in its standalone net profit to ₹104.22 crore in the March quarter, on account of higher income.
Jupiter Wagons shares zoomed to a 52-week high price of ₹484.35 apiece on Friday, May 10, rising 15%. The rail freight wagon maker’s stock has risen for the fourth consecutive session. The one-month gain on the stock is nearly 28%, while the one-year return on Jupiter Wagons is more than 346%.
The Street remains bullish on Jupiter Wagons as the firm reported an over two-fold jump in its standalone net profit to ₹104.22 crore in the March quarter, on account of higher income.
It had reported a net profit of ₹40.78 crore in the January-March period of FY22–23, the company said in a statement on Wednesday.
The company’s total income during the quarter rose to ₹1,121.34 crore from ₹712.71 crore in the year-ago period.
During the quarter, Jupiter Wagons Ltd (JWL) secured an order for the manufacturing and supply of four rakes of double-decker automobile carrier wagons totaling ₹100 crore.
As of March 31, the company’s order book stood at ₹7,101.66 crore.
Domestic brokerage Antique Stock Broking is confident in Jupiter Wagon’s position in mobility solutions and projects a turnover increase to ₹7,000-₹8,000 crore over the next five years.
On March 20, Jupiter Wagon’s approved the acquisition of 94.25% stake in Bonatrans India Private for a cash consideration of ₹271 crore.
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