Railway stock engaged in manufacturing metal fabrication, railway wagons, wagon components, castings, and many more jumped 3 percent in the day’s trade following the strategic acquisition of Bonatrans India Private Limited for a consideration of Rs. 271 Crores.
With a market capitalization of Rs. 14,148 Crores, the shares of Jupiter Wagons Limited were trading at Rs. 343.45, up 2.95 percent from its previous day’s close price of Rs. 333.60.
Jupiter Wagons Limited has acquired 94.25 percent of the shareholding of Bonatrans India Private Limited for a consideration of Rs. 271 Crores. Post-acquisition it will become the subsidiary of Jupiter Wagons Limited and position it as the first rolling stock manufacturing company to have its wheel plant.
Bonatrans India Private Limited manufactures components of Rolling Stocks such as Wheels, Axles & Wheel Sets with a production capacity of 20,000 Wheels and 10,000 Axles annually.
Jupiter Wagons Limited is engaged in the business of manufacturing metal fabrication, railway wagons, wagon components, castings, and many more comprising load bodies for commercial vehicles, rail freight wagons, and components.
As of Q3FY24 Jupiter Wagons has an order book of Rs. 7,076.31 Crores, which consists of Railway Wagons, CMS Crossing, Commercial Vehicle Bodies & Components, Containers, Hubs, Brake Disc Assemblies, and others.
Its revenue from operations grew by 39.13 percent from Rs. 644 Crores in Q3FY23 to Rs. 896 Crores in Q3FY24, accompanied by increasing profits of Rs. 46 Crores to Rs. 83 Crores.
Written by: Bharath K.S
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