The shares of Jupiter Wagons gained more than 4% in intraday trade on Monday, November 2, after it secured orders worth over ₹324 crore from GATX India and Chetak International for its ACT-2 wagon platform. GATX placed a letter of intent worth ₹214.94 crore for 10 rakes comprising 270 ACT-2 wagons, while Chetak International placed an order worth ₹109.10 crore for five rakes comprising 135 ACT-2 wagons, the company said in a regulatory filing on Monday.“These wins reflect the confidence that private wagon-leasing and logistics operators place in our new-design ACT2 platform and in our ability to deliver at scale," said Vivek Lohia, managing director of the company.
Developed by GATX in collaboration with RDSO, it features a modified LCCF bogie and an articulated connector to improve carrying capacity, load stability and operational efficiency. The company said the new private-sector orders complemented strong demand from Indian Railways, including a ₹1,140 crore order from the Ministry of Railways for 2,583 wagons.
Stock ReactionThe shares of Jupiter Wagons jumped up to 4.2% following the order win and were trading 3.5% up at ₹188.19 as of 11:53 am on Monday. The jump comes after the stock closed in red in Friday, October 30's trade, breaking a four-day gaining streak.
The company's shares have fallen about 44% in the year-to-date period while registering losses of nearly 42% in the trailing 12-month period.