Jupiter Wagons EV arm launches JEM TEZ, stock jumps 6%; details here

Shares of mobility solutions provider company Jupiter Wagons were active in trade on the bourses in an otherwise weak market on Tuesday, March 4, 2025. The company's shares rose 6.12 per cent to Rs 301.3 per share on the National Stock Exchange (NSE) during intra-day trade on Tuesday.

 

The upward movement in the company's share price came following the news that Jupiter Electric Mobility (JEM), the electric vehicle arm of the Jupiter Group, had launched its flagship model, ‘JEM TEZ’, the advanced electric light commercial vehicle featuring industry leading specifications of 190+kms True Range, 80kW peak Motor Power with 23 per cent gradeability with a 1.05Ton certified payload.

 

It also inaugurated its state-of-the-art EV manufacturing plant in Pithampur, Indore, Madhya Pradesh, a rapidly growing automotive and electric vehicle hub, the company said in a release. Spanning 2.5 acres, the facility is equipped with an in-house skateboard platform to vehicle assembly unit.  READ: Bajaj Auto, Hero MotoCorp, Ola Electric hit 52-week lows; here's why

 

"With advanced manufacturing and cutting-edge technology, we aim to set new benchmarks in the EV industry while driving economic growth, infrastructure development, and job creation. With an initial annual capacity of 8,000 to 10,000 e-LCVs, JEM has set its sights on ambitious growth, aiming to significantly ramp up production volumes in the future," said Vivek Lohia, Managing Director, Jupiter Group.

 

Lohia further said that the company aims to achieve a revenue of Rs 100 crore in its first year of operations, with a projected year-on-year growth of at least 2X. This growth strategy, Lohia said, includes expanding the product portfolio with new variants to meet evolving market demands.

 

Jupiter Wagons (JWL) 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 backward 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 Defense, BEML, Alstom, Tata Motors, GE, and Volvo Eicher Motors.  READ: Bajaj Auto share price falls 4%, hits 52-week low; stock down 13% in 8 days

 

As of March 4, 2025, Jupiter Wagons' market capitalisation stands at Rs 12,571.51 crore. The company is a constituent of the Nifty 500 index.

 

Jupiter Wagons shares hit their 52-week high of Rs 748.10 per share on July 5, 2024, while they fell to their 52-week low of Rs 270.05 on March 3, 2025.

 

The company’s share price has dropped nearly 47 per cent in the last six months and around 20 per cent in the last one year.

 

Jupiter Wagons shares continued to trade higher on the bourses. At around 12:09 PM on Tuesday, the company's shares were trading at Rs 293.70 apiece, up 3.45 per cent from the previous close of Rs 283.90 on the NSE.

 

Meanwhile, the benchmark equity indices were trading in negative territory on Tuesday, March 4. The BSE Sensex was down by 177 points at 72,908 levels, while the Nifty 50 traded 0.31 per cent lower at 22,050 levels.