Jupiter Wagons up 3%, BEML gains 3.5% on orders wins of Rs 802 crore from defence ministry

The Jupiter Wagons stock gained 3.2 percent in early trade on January 5, while BEML shares jumped 3.5 percent after the companies bagged orders worth Rs 802 crore from the Defense Ministry.

Jupiter Wagons won a Rs 473-crore a contract from the defence ministry for 697 boggie open military (BOM) wagons. On January 4, the ministry also signed a Rs 329-crore contract with BEML for the procurement of 56 Mechanical Minefield Marking Equipment (MMME) Mark II.

On January 4, Jupiter Wagons closed at Rs 333.65, locked in a five percent upper circuit.

As of 9.45 am, shares of BEML were trading at Rs 2,979.1 apiece, higher by 3.14 percent on the NSE, while Jupiter Wagons stock extended its gains by 3.2 percent to Rs 341.5.

“This collaboration with the ministry of defence exemplifies our commitment to indigenous production, reinforcing the spirit of Make in India,” Jupiter Wagons’ managing director Vivek Lohia said.

BOM wagons, designed by the Research Design and Standard Organisation (RDSO), are specialised wagons for the mobilisation of the Indian Army units. These wagons transport various military hardware such as light vehicles, artillery guns and engineering equipment to operational areas.

“This critical rolling stock ensures the swift induction equipment and facilitates their movement for military exercises and station transfers,” the company said in an exchange filing.

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Over the past year, shares of Jupiter Wagons have rocketed 235 percent, more than tripling investors’ wealth. The frontline Nifty 50 index has gained around 20 percent during the period .

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