Jupiter Wagons Declares Interim Dividend For FY25: 7th October Fixed As Record Date; Call of Buy?

Indian business Jupiter Wagons Limited produces passenger coaches, railway waggons and other railway equipment. The production plants of Jupiter Waggons are situated in Jamshedpur, Jharkhand; Hooghly, West Bengal; Jabalpur, Madhya Pradesh; and Indore, Madhya Pradesh. It is involved in the production of draft gears, rail bogies, couplers/couplings, cast manganese steel crossings, and all varieties of railway waggons. Following the company's announcement of an interim dividend of Rs 1 per share, Jupiter Wagons' shares closed Friday's trading session 2.16% higher on the NSE at Rs 528.90 apiece.

Jupiter Wagons Dividend

"We wish to inform that the Board of Directors of the Company, at its meeting held today, i.e., 18th September, 2024 has, inter alia, approved the following matters: Pursuant to Regulation 43 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Declared an Interim Dividend @ 10% i.e. Rs 1.00 per equity share of Rs 10/- each fully paid up for the Financial Year 2024-25. The payment thereof shall be made on or before 17th October, 2024. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including amendments thereunder: The Board of Directors of the Company has fixed Monday, 7th October, 2024 as the "Record Date" to ascertain the names of the eligible shareholders / beneficial owners of the Company to whom the aforesaid interim dividend shall be payable," said the company in a stock exchange filing.

Jupiter Wagons Latest News

On September 17, Jupiter Wagons Limited declared a strategic rebranding of its subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, replacing the previous name, Bonatrans India Private Limited. Furthermore, Jupiter Wagons has disclosed ambitious plans to increase this subsidiary's capacity, including the construction of a new plant with cutting-edge forged wheelset production lines. With an approximate expenditure of Rs. 2,500 Crore, the new factory in Odisha would enable Jupiter Tatravagonka Railwheel Factory Private Limited to enhance its yearly manufacturing capacity from the present 20,000 forged wheelsets per year to 100,000 forged wheelsets per year. It is anticipated that the plant will be completely operational by 2027. With around half of the manufacturing capacity allocated to exports-mainly to its partner Tatravagonka A.S. and other European players-it will eventually service both domestic and foreign markets.

Commenting on this development, Mr. Vivek Lohia, Managing Director of Jupiter Wagons, said, "We are excited to announce the transformation of our subsidiary, now named Jupiter Tatravagonka Railwheel Factory Private Limited. The investment in a new facility housing state-of-the-art manufacturing technology, positions us for greater growth and efficiency. Jupiter Wagons continues to take bold steps toward a more sustainable, efficient, and globally competitive future for the rail infrastructure manufacturing industry in India. This latest investment underscores our vision of innovation and excellence as we now aim to deliver world-class products to global markets."

Jupiter Wagons Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "JWL is currently trading between 520 and 530, having previously reached an all-time high of 748. Since then, the stock has corrected by about 35%. However, it remains above its 200-day EMA, suggesting continued strength. If the stock breaks above the resistance level of 545, it could potentially reach a short-term target of 615. On the downside, immediate support lies at 505, which could present buying opportunities on pullbacks."

"The Relative Strength Index (RSI) stands at 43.11, indicating that while the stock is nearing oversold territory, it is not yet oversold, aligning with the support level holding. To mitigate risk, a stop-loss at 480 is recommended to guard against unexpected market reversals. In conclusion, based on the technical analysis and current market conditions, JWL offers an attractive buying opportunity for those aiming for a target of 615, as long as proper risk management strategies are employed," the analyst further recommended.