Jupiter Wagons shares zoom 10% to fresh high, target price raised to Rs 535
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Shares of rail company Jupiter Wagons today rallied up to 10% to hit a fresh 52-week high of Rs 448.85 on reporting yet another robust set of results in the March quarter where revenue/EBITDA/PAT saw a strong growth of 57%/60%/167% YoY led by higher volume growth and better margin. Domestic brokerage firm Systematix raised the target price to Rs 535 from earlier Rs 474 saying that the company is now completely integrated with a series of backward integration, superior margins, entry into high growth e-LCV market, and strong industry tailwinds. The company manufactured the highest-ever 2,520 wagons during the quarter, a whopping 64.5% YoY/31% QoQ growth which corresponds to a run rate of 840 wagons/month. ALSO READ | L&T shares fall 6% as brokerages cut target prices after Q4 results. Should you buy or sell? "As a result, revenue increased sharply by 57% YoY/+25% QoQ to ₹11.1 bn. This was further bolstered by a 35% growth in CV bo...