Jupiter Wagons shines as its arm acquires Log9`s railway & electric truck battery divisions
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Jupiter Wagons is currently trading at Rs. 504.95, up by 18.25 points or 3.75% from its previous closing of Rs. 486.70 on the BSE.
The scrip opened at Rs. 491.80 and has touched a high and low of Rs. 521.80 and Rs. 489.80 respectively. So far 160034 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 748.05 on 05-Jul-2024 and a 52 week low of Rs. 301.00 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 521.80 and Rs. 450.10 respectively. The current market cap of the company is Rs. 21371.35 crore.
The promoters holding in the company stood at 68.11%, while Institutions and Non-Institutions held 5.44% and 26.45% respectively.
Jupiter Wagons’ (JWL) subsidiary -- Jupiter Electric Mobility (JEM) has completed the acquisition of Log9’s technology and business assets for its Railway Battery and Electric Truck Battery Divisions. This acquisition marks a significant advancement in JEM’s mission to revolutionize the electric mobility landscape in India by expanding its portfolio with cutting-edge battery solutions tailored for both the electric truck segment and Indian Railways.
The acquisition includes the engineering and production teams dedicated to railway and electric truck battery technologies, who will now become part of JEM’s dynamic workforce. Additionally, JEM will acquire Log9’s state-of-the-art manufacturing facility located in Devanahalli, Bangalore further reinforcing its position as a leading player in India’s electric mobility ecosystem.
This strategic merger enhances JEM’s capabilities in the electric truck segment by enabling backward integration into battery production - an essential component of its electric light commercial vehicles (e-LCVs). With this addition, JEM will be better equipped to design, engineer, and produce in-house battery solutions, strengthening its position in a highly competitive market.
For Jupiter Wagons, JEM’s acquisition of Log9’s railway battery technology is a pivotal expansion of its Railways Product Landscape. By adding this vital battery division, JEM is positioned to support a range of applications in the Indian Railways segment. Notably, JEM and Log9 have already seen success in piloting battery products with Indian Railways, recently securing an order for Vande Bharat batteries in collaboration with Siemens.
Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.
