Jupiter Wagons, a big name in the railway industry, is stepping onto a new track – the electric vehicle (EV) market. This exciting journey is set to begin early next year, a significant move for the company known for its trains and railway components. The decision comes as more people seek eco-friendly travel options, making it the perfect time for Jupiter Wagons to hop on the EV wave.
In a recent chat with CNBC-TV18, Vivek Lohia, Director of Jupiter Wagons Group, spilled the beans on their EV plans. Their focus? Last-mile and middle-mile transport – vital cogs in today's fast-moving world. Their first EV will be a compact delivery vehicle, packing a punch with a one-tonne payload capacity. But they're not stopping there; they've got their sights set on creating EVs with a whopping five-tonne payload capacity.
This switch to EVs is not just a smart business move. It's also a nod to the planet, a step towards cleaner, greener travel, aligning with the global shift towards sustainable transportation. The times are changing, and Jupiter Wagons is steering in the right direction.
In the stock market, Jupiter Wagons is racing ahead too. Their shares have skyrocketed by a whopping 253% in just six months, leaving other railway stocks in the dust. In comparison, Sensex which measures the stock market, only went up by 14.68% in same time period. Investors are taking notice, and Jupiter Wagons is gaining attention for all the right reasons.
The stock has had been in up & down positions, but right now, it's in a good place. It's not overbought or oversold, as indicated by the relative strength index (RSI), a measure of its market health. That's great news for potential investors!
The financials of the share clearly show that they're on the right track. Their net profit shot up by an incredible 387.59% for the quarter ending June 2023 compared to the same period last year. Revenue is following suit, with a substantial 154.68% increase during this time.
Jupiter Wagons is getting ready for a big change by stepping into the electric vehicle market while keeping their focus on railways, where they began. They believe in new ideas and being eco-friendly. With their successful stocks and this new venture, Jupiter Wagons is looking at a bright future. The world is moving towards cleaner and better ways to travel, and Jupiter Wagons is moving with it.