Shares of multibagger Jupiter Wagons Ltd have delivered strong returns in the last three years. The multibagger stock, which closed at Rs 34.65 on June 23, 2021 rose to Rs 698 on the BSE in the current session, delivering 1,914% returns to investors. An amount of Rs 1 lakh invested in the shares of railway wagon maker three years ago would have turned into Rs 20.14 lakh today. In comparison, Sensex has risen 46.56 per cent during the period.
On Monday, Jupiter Wagons shares hit an intraday high of Rs 698 against the previous close of Rs 695.95 on BSE. Jupiter Wagons stock has gained 360% in a year and risen 115 per cent in 2024. At 12:07 pm, the stock was trading 1.16% lower at Rs 682.50.
Total 1.25 lakh shares of the firm changed hands amounting to a turnover of Rs 8.61 crore on BSE today. The market cap of the firm stood at Rs 28,252 crore.
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.
Shiju Koothupalakkal - Technical Research Analyst at Prabhudas Lilladher said, "The stock has recovered strongly post the steep fall witnessed recently. To improve the bias and after a short period of gradual slide taking support near the Rs 158 zone, there is improvement witnessed to anticipate for further upward move. The RSI has consolidated near the 70 zone and has potential to carry on with the positive move further ahead with next higher targets of Rs 745 and Rs 820 levels visible. The near-term support would be maintained near the 645 zone below which the overall bias would turn weak."
Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox said, "The stock continues to witness bullish momentum. The next leg of breakout is anticipated to arise over the key hurdle of Rs 725, which must be surpassed on aggressive volumes. When that happens, a sharp move towards Rs 800 and Rs 850 cannot be ruled out. Immediate supports are available at Rs 650 and Rs 600 levels. The positive bias is held strong with the 50-daily moving average (DMA) set at Rs 500 level."
In terms of technicals, the relative strength index (RSI) of Jupiter Wagons stands at 68.3, signaling it's trading neither in the overbought nor in the oversold territory. Jupiter Wagons stock has a one-year beta of 1.4, indicating high volatility during the period. Shares of Jupiter Wagons are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
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.