Jupiter Wagons shares hit a day high of Rs 226.99 on 5 October, up 1%, after the firm won a Rs 100 crore battery storage order in Uttarakhand.

The company told exchanges about the win at around 13:30 pm. Jupiter Wagons, better known for building railway wagons, landed the job through JEM Energy, its clean energy arm.

Madhav Infra Projects Limited is its partner on the project. The customer is Uttarakhand Power Corporation Limited (UPCL).

The project is essentially a giant battery. It stores electricity when demand is low and sends it back to the grid when demand peaks.

The system is rated at 41 MW and can hold 102.5 MWh of energy. Jupiter and its partner will supply and set it up, and the work is worth about Rs 100 crore.

The two firms won by quoting the lowest price in a competitive bidding round run by UPCL. It is JEM Energy’s first project in Uttarakhand.

This is not the only recent win. In August 2026, the company also received a formal award letter from West Bengal State Electricity Distribution Company Limited.

That job is a 50 MW/200 MWh battery project at the Jeerat substation in North 24 Parganas.

Managing Director Vivek Lohia called both wins important steps in turning JEM Energy into a bigger business.

Jupiter Wagons still aims to build a battery storage order book of about Rs 1,000 crore by FY27.

Lohia also said the electric mobility arm, Jupiter Electric Mobility, should start making an operating profit in the October to December quarter of FY27.

He expects it to turn profitable overall by FY28. The orders follow the Union Cabinet’s approval of Green Energy Corridor Phase-III, which includes 50 GWh of battery storage.

The early rally did not hold. Jupiter Wagons closed at Rs 223.44 on the NSE, down 0.22%, after swinging between a low of Rs 218.61 and its high of Rs 226.99. The stock has lost 8.38% over the past month.

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