Jupiter Wagons jump 7% as arm acquires Log9's tech and business assets

Jupiter Wagons shares jumped 7.2 per cent on Thursday and registered an intraday high of Rs 521.8 per share on BSE. The stock rose after Jupiter Wagons arm Jupiter Electric Mobility acquired Log9’s technology and business assets.

 

Around 11:02 AM, Jupiter Wagon shares were up 3.65 per cent at Rs 504.45 per share. In comparison, the BSE Sensex was down 0.43 per cent at 79,599.27. The market capitalisation of the company stood at Rs 21,413.80 crore. 

 

"Jupiter Electric Mobility, a subsidiary of Jupiter Wagons, today announced a landmark acquisition of Log9’s technology and business assets for its Railway Battery and Electric Truck Battery Divisions," the filing read. 

 

The acquisition includes the engineering and production teams dedicated to railway and electric truck battery technologies, who will now become part of Jupiter Electric. 

 

Additionally, Jupiter Electric will also acquire Log9’s manufacturing facility located in Devanahalli, Bangalore.

 

As per the filing, the strategic merger will enhance Jupiter Electric’s capabilities in the electric truck segment by enabling backward integration into battery production—an essential component of its electric light commercial vehicles (eLCVs). 

 

With this addition, Jupiter Electric will be better equipped to design, engineer, and produce in-house battery solutions, strengthening its position in a highly competitive market.

 

For Jupiter Wagons, the acquisition will help in the expansion of its Railways Product Landscape. By adding this vital battery division, Jupiter Electric is positioned to support a range of applications in the Indian Railways segment. 

 

Jupiter Electric 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.

 

"This acquisition is more than a transaction; it’s an investment in Jupiter Electric's future. By integrating Log9’s technology and production capabilities into our portfolio, we’re able to expand our expertise in electric mobility and railways while reinforcing our dedication to sustainable and innovative energy solutions," said Vivek Lohia, managing director, Jupiter Wagons.

 

Jupiter Electric Mobility is a subsidiary of Jupiter Wagons. The company is focused on advancing electric vehicle and energy storage solutions across commercial and industrial segments in India. It specialises in designing and manufacturing cutting-edge electric trucks, light commercial vehicles (e-LCVs), and energy storage solutions for various applications, including Railways. 

 

Log9 Materials is a deep-tech company based in Bangalore, specializing in advanced, high performance battery solutions designed to meet the rigorous demands of India’s electric mobility, logistics, and industrial sectors.

 

In the past one year, Jupiter Wagons shares have gained 55.7 per cent against Sensex's rise of 25 per cent.