Jupiter Wagons soars on completing acquisition of Bonatrans India
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Jupiter Wagons is currently trading at Rs. 346.65, up by 13.05 points or 3.91% from its previous closing of Rs. 333.60 on the BSE.
The scrip opened at Rs. 343.55 and has touched a high and low of Rs. 348.35 and Rs. 343.05 respectively. So far 29420 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 433.95 on 23-Jan-2024 and a 52 week low of Rs. 85.37 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 356.75 and Rs. 326.65 respectively. The current market cap of the company is Rs. 13754.12 crore.
The promoters holding in the company stood at 70.12 % while Institutions and Non-Institutions held 3.31 % and 26.57 % respectively.
Jupiter Wagons has completed the acquisition of Bonatrans India by entering into Share Purchase Agreement with existing shareholders, which is approved by the Board of Directors of Bonatrans India on March 20, 2024. Post acquisition, the Bonatrans India has become the Subsidiary Company of Jupiter Wagons.
This Strategic Investment for acquisition of Bonatrans India marks an important milestone in our business growth expansion plans. Bonatrans India situated in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra, stands as a distinguished manufacturer of rolling stock wheelsets. With a production capacity of 20,000 Wheels and 10,000 Axles annually, the acquisition promises to bolster Jupiter Wagons’ self-reliance and operational efficiency while reducing dependency on imported wheels. Bonatrans India’s esteemed clientele includes JWL, BEML, Alstom Rail Transportation India., Plasser India and Titagarh Rail Systems.
Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.
