Jupiter Wagons shares hit a 52-week high of Rs 343.40 on 15 December after the company announced securing a contract from the Ministry of Railways worth Rs 1,617 crore.

In its regulatory filing, the company said, “The Ministry of Railways (Railway Board) vide its letter of acceptance dated December 14, 2023 has awarded an order to manufacture and supply of 4,000 numbers of BOXNS wagons for a contract value of Rs 1,617 crore.”

The company had also announced its plans to increase its existing foundry at the Kolkata Unit from 2,500 metric tonnes to 3,000 metric tonnes by the end of the current fiscal year.

In its quarterly report for July-September, the company reported a 241% year-on-year increase in its consolidated net profit to Rs 82.07 crore during the quarter from Rs 25 crore reported in the same quarter last year.

The revenue of the company stood at Rs 879 crore during the quarter, which is a 110% YoY increase from Rs 417 crore reported in the same quarter during the previous fiscal year.

The company is a private manufacturer of railway wagons, wagon components, passenger coaches, and castings. The company is in the business of manufacturing vehicle bodies for commercial vehicles and the production of Fully Built Vehicles.

At 12:10 pm, the shares of Jupiter Wagons were trading 2.27% higher at Rs 336 on NSE.