Shares of Jupiter Wagons rose nearly 4% on Thursday after the railway wagon maker said it achieved significant milestones in battery technology for Indian Railways. Jupiter Wagons shares gained 3.81% intraday to Rs 700.70 against the previous close of Rs 674.95 on BSE. Later, shares of Jupiter Wagons ended 2.57% higher on BSE.
Total 3.38 lakh shares of the firm changed hands amounting to a turnover of Rs 23.01 crore on BSE today. The market cap of the firm rose to Rs 28,543 crore on BSE.
Jupiter Wagons stock has gained 343% in a year and risen 116.41 per cent in 2024.
The stock hit a 52-week high of Rs 727.75 on June 13, 2024 and a 52-week low of Rs 148.30 on June 26, 2023.
Jupiter Wagons stock has a one-year beta of 1.4, indicating very high volatility during the period.
In terms of technicals, the relative strength index (RSI) of Jupiter Wagons stands at 65.8, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Jupiter Wagons stand higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Jupiter Electric Mobility Private Limited, a subsidiary of Jupiter Wagons Limited (JWL), in partnership with Log9 Materials Private Limited - a company in deep tech innovation and energy storage technologies, announced a key milestone in the development and certification of their Lithium-Ion Phosphate (LFP) battery technology, enhancing the efficiency and sustainability of rail transport in India
Key Achievements:
1. RDSO Certification for Non-AC Coaches: Successful completion of a six-month trial of its 11.2 kWh LFP battery pack for rail coaches, making Jupiter the first company to receive certification from the Research Designs and Standards Organisation (RDSO). This marks a significant achievement in the advancement of battery technology for Indian Railways.
2. Contract Awarded by Siemens: Awarded a purchase order by Siemens for the supply of 36 auxiliary batteries, each with a capacity of 72.8 kWh, for 9 Vande Bharat Trainsets. This order underscores the trust and reliability that Siemens places in these advanced battery solutions. Additionally, the 72.8 kWh LFP battery pack has received RDSO approval, further validating its performance and safety.
3. Technical Qualification by BHEL: The 72.8 kWh LFP battery pack has been technically qualified by BHEL for use in Vande Bharat Trainsets. This qualification by BHEL, a major player in the railway sector, demonstrates the robustness and technical excellence of Jupiter’s battery solutions.
Jupiter Wagons is engaged in the business of manufacturing of railway wagons, passenger coaches, wagon components and castings in India. The company's integrated facilities are engaged in the manufacture of railway wagons, high-speed bogies and railway castings.