Jupiter Wagons shares jump 7% on dividend announcement. Details here

Shares of Jupiter Wagons Ltd rose sharply in Monday's trade after the private rail firm declared an interim dDividend of 30 paise per equity share of Rs 10 each fully paid up for the financial year 2023-24 (FY24). The stock surged 7.42 per cent to hit a day high of Rs 396 over its previous close of Rs 368.65.

The company said dividend payment will be done on or before March 19, 2024. And, February 20 has been fixed as the record date.

During the third-quarter (Q3 FY24), profit after tax stood at Rs 83.40 crore, up 79.8 per cent on a year-on-year (YoY) basis.

In Q3 FY24, total income was at Rs 900.81 crore, up 39.4 per cent YoY, EBITDA for the quarter stood at Rs 124.80 crore, up 54.7 per cent YoY. The EBITDA margin has improved by 140 basis points (bps) from 12.5 in Q3 FY23 to 13.9 in Q3 FY24.

"In an eventful quarter from the perspective of order wins, the wagon business won orders of over Rs 2,200 crore from the government as well as private customers. This includes a substantial Rs 1,617 crore order from Indian Railways, a Rs 473 crore order from the Defence Ministry and Rs 100 crore order from an automotive major for four sets of double-decker automotive carrier wagons. Additionally, we received an order valued at Rs 112 crore for axle-mounted brake disc systems in our JV company JWL DAKO CZ India. With these wins, the aggregate order backlog now stands at Rs 7,076 crore," said Vivek Lohia, Managing Director at Jupiter Wagons, in an earnings call.

On technical charts, the counter was last seen trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).

The stock's 14-day relative strength index (RSI) came at 56.70. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 56.43 against a price-to-book (P/B) value of 14.39.

Jupiter Wagons is a provider of comprehensive mobility solutions encompassing rail, road and marine transportation. The company also has a presence in the commercial electric vehicle (CEV) segment.

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