Jupiter Wagons Ltd (JWL) stock surged 10%, hitting the upper circuit during Thursday’s trading session. This surge came after the company announced that it had secured a lucrative order from the Ministry of Railways.
In an exchange filing made after-market hours on Wednesday, JWL revealed that the Ministry of Railways had awarded them a contract for the manufacture and supply of 2,237 BOSM Wagons, with a total contract value of Rs 956.87 crore. The order was confirmed on Wednesday, March 6.
“We are pleased to inform you that the Ministry of Railways (Railway Board) has placed an offer to the company for manufacture and supply of 2,237 BOSM Wagons for a contract value of Rs 956.87 crore,” said the filing.
Following this announcement, shares of Jupiter Wagons Ltd soared, reaching their upper circuit limit at Rs 398 on the National Stock Exchange (NSE), resulting in a total market capitalization exceeding Rs 16,000 crore.
As of 11:30 am, the company’s shares were trading at ₹377.45.
