Jupiter Wagons shares rise 4% in early deals; here’s why

Shares of Jupiter Wagons Ltd gained 4% in early trade today after the railway sector firm said it has inked a contract with the defence ministry for manufacture and supply of 697 bogie open military (bom) wagons for a contract value of Rs 473 crore.

In the current session, Jupiter Wagons shares rose 4.01% intraday to Rs 345.15 against the previous close of Rs 331.60 on BSE. Total 0.88 lakh shares of the firm changed hands amounting to a turnover of Rs 3 crore on BSE today. The market cap of the firm rose to Rs 14,017 crore on BSE.

Jupiter Wagons stock has gained 243% in a year. The stock hit a 52-week high of Rs 412.50 on September 6, 2023 and a 52-week low of Rs 85.37 on March 28, 2023.

Jupiter Wagons stock has a one-year beta of 0.3, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Jupiter Wagons stands at 55.1, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Jupiter Wagons are trading higher than the 5 day, 10 day, 20 day, 30 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.

Also read: Sensex rises over 300 points, Nifty trades near 21,750; NHPC, Finolex Industries surge up to 8%

Also read: Stock recommendations by market analysts for January 5, 2024: Canara Bank, CDSL and REC