Jupiter Wagons shares jump 35% in four days following promoter stake hike
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Jupiter Wagons’ shares rose 2.7% to Rs 345 in Wednesday’s trading session, after some mild profit-taking in early trade. This marked the fourth consecutive session of gains, with the stock cumulatively rising over 35%. The surge was driven by positive investor sentiment following an increase in the promoter’s stake. The rally came after the company disclosed that its promoter, Tatravagonka A.S., acquired additional shares through the conversion of convertible warrants issued under a previously approved preferential allotment. As part of the transaction, Tatravagonka A.S. was allotted 28.72 lakh shares at Rs 470 each, amounting to approximately Rs 134.99 crore. The acquisition was completed on December 19 and disclosed the same day in compliance with SEBI’s insider trading regulations. Prior to this allotment, the promoter held 7.93 crore shares, or 18.69% of the company. After the transaction, the holding rose to 8.22 crore shares, boosti...