India's Jupiter Wagons hits record high; Systematix starts coverage with "buy"

Jupiter Wagons

27/07/2023 07:40

** Shares of India's railway carriage-maker Jupiter Wagons 
 JUWL.NS  up as much as 2.87% to hit record high at 234.60
rupees 
    ** Systematix Research initiates coverage with "buy" rating
and TP of 282 rupees 
    ** Brokerage says co major beneficiary of Indian Railways'
$750 bln capex plan, says goods movement demand expected to grow
more than 7% by 2027
    ** Given long-term growth visibility, superior return
ratios, we are quite positive on the sector - note
    ** Adds strategic JVs with global leading players to pay off
well in long run
    ** Lower railways spend, delay in commissioning of freight
corridor, economic slowdown key risks, flag SR analysts
    ** More than 1.6 mln shares changed hands by 12:01 p.m. IST,
 0.9X 30-day avg 
    ** YTD stock had risen ~150%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))