Latest news with #JupiterWagons'
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Business Standard
28-05-2025
- Automotive
- Business Standard
Jupiter Wagons shares jump 5% as unit signs MoU with Pickkup; details here
Shares of Jupiter Wagons rose nearly 5 per cent after its unit announced a partnership with Pickkup, focused on sustainable intra-city and intercity deliveries. Jupiter Wagons' stock rose as much as 4.71 per cent during the day to ₹419.4 per share, the best intraday gain since May 16 this year. The stock pared gains to trade 2.6 per cent higher at ₹411 apiece, compared to a 0.17 per cent decline in Nifty50 as of 10:51 AM. Shares of the company have risen nearly 25 per cent from their recent lows of ₹327, which it hit earlier this month. The counter has risen by 17.8 per cent this year, compared to a 4.7 per cent advance in the benchmark Nifty50. Jupiter Wagons has a total market capitalisation of ₹17,446.87 crore. Jupiter Wagons partnership with Pickkup Jupiter Electric Mobility, the electric vehicle division of Jupiter Wagons, announced a partnership with Pickkup, a Delhi-based logistics platform focused on sustainable intra-city and intercity deliveries. The two companies have signed a Memorandum of Understanding (MoU) to deploy 300 units of JEM TEZ, JEM's flagship electric light commercial vehicle, into Pickkup's expanding electric vehicle (EV) fleet by the end of this year. This collaboration aligns closely with India's clean mobility ambitions and supports the Government of India's PM e-DRIVE scheme, which promotes the adoption of electric vehicles across various sectors, it said in the exchange filing on Tuesday. The partnership began with the successful delivery of the first batch of JEM TEZ vehicles. These units were rigorously tested through pilot runs that demonstrated their high performance and operational reliability. According to the statement, the EVs delivered a range exceeding 190 km per charge and, in some cases, reached up to 220 km. 'Our mission at Jupiter Electric Mobility is to empower logistics providers with next-generation electric vehicles that deliver on performance, sustainability, and profitability. Our alliance with Pickkup is a strategic step toward accelerating India's transition to clean mobility, particularly in the logistics sector,' Vivek Lohia, Managing Director of Jupiter Group, said in teh statement. "This partnership represents a crucial milestone in our journey toward a cleaner and smarter transport future.' About Jupiter Wagons The company provides mobility solutions, with diverse offerings across freight wagons, locomotives, commercial vehicles, ISO marine containers, and products such as couplers, draft gears, bogies, CMS crossings, brake discs, brake systems, wheels, axles, and wheel sets. The company has manufacturing facilities located in Kolkata, Jamshedpur, Indore, Jabalpur, and Aurangabad with full backwards integration to its foundry operations. It caters to industries such as railways, automobiles, transportation, logistics, construction equipment, municipalities, healthcare, energy, mining, and infrastructure. The company has a marquee client base, including the Indian Railways, American Railroads, Indian Ministry of Defence, BEML, Alstom, Tata Motors, GE, and Volvo Eicher Motors. ALSO READ:
Yahoo
04-03-2025
- Automotive
- Yahoo
India's Jupiter Wagons wins contract to supply wheelsets for Braithwaite & Co
Jupiter Wagons' specialised wheelset manufacturing arm Jupiter Tatravagonka Railwheel Factory has secured a contract worth Rs2.55bn ($29.1m) from Braithwaite & Co for the supply of 9,140 wheelsets. The contract elevates Jupiter's total order book to Rs5.6bn ($64m). Jupiter Wagons managing director Vivek Lohia said: 'This order from Braithwaite & Co. underscores the trust in Jupiter Tatravagonka Railwheel Factory's manufacturing excellence and our ability to meet the evolving demands of India's railway sector. 'With the rapid expansion of freight and passenger rail networks, there is a critical need for reliable, high-performance wheelsets produced domestically at scale. 'Our Odisha facility will be a game-changer in this space, ensuring India's self-sufficiency in wheelset manufacturing while also positioning us as a global supplier.' Jupiter Wagons is a provider of mobility solutions, offering a wide range of products, including freight wagons, locomotives, commercial vehicles, and ISO marine containers. The company operates manufacturing facilities in Kolkata, Jamshedpur, Indore, Jabalpur, and Aurangabad, with complete backward integration to its foundry operations. Jupiter Wagons' strategic plans include a revenue target of Rs6bn ($68.5bn) crore from its wheel business by the financial year 2026, nearly doubling its current figures. To realise this ambition, Jupiter is undergoing a major expansion, with a new facility in Odisha set to increase annual capacity from 20,000 to 100,000 forged wheelsets. This expansion, supported by a Rs25bn ($285.5m) crore investment, aligns with national goals to strengthen domestic manufacturing and curb import dependency. The Odisha project is on track, with axle production slated to commence by December 2026 and the full wheel and axle production unit expected to be operational by December 2027. This development is a strategic move to enhance India's rail manufacturing capabilities and reduce the country's reliance on imported railway components. "India's Jupiter Wagons wins contract to supply wheelsets for Braithwaite & Co" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
