India's Jupiter Wagons key for Railways to recoup lost freight market share-Sharekhan

Jupiter Wagons

03/07/2023 06:18

** Shares of railway wagons manufacturer Jupiter Wagons
 JUWL.NS  up as much as 5%, hitting a record high to 182.4
rupees 
    ** Stock on track for a second consecutive session of gains 
    ** Brokerage Sharekhan reiterates positive view on stock,
given healthy order book of about 58.18 billion rupees ($711.03
million) and new rail orders of about 250 billion rupees that
are likely to open for bidding in next few months
    ** Co increasing its manufacturing capacity from 600 wagons
per month in Q4FY23 to 700 in Q4FY24 to meet growing demand from
Indian Railways - Sharekhan 
    ** In order for Railways to recoup its lost market share in
freight traffic, JUWL would be pivotal. To meet demand, Indian
Railways will need to order 250,000 wagons in the next 10 years,
the brokerage firm added 
    ** As of last close, stock up 89.3% YTD 

($1 = 81.8250 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))