Jupiter Wagons Limited (JWL) stock surged 4.67% after it announced that it had acquired Bonatrans India Private Limited (BIPL) for a sum of Rs 271 Crore. This strategic move is a significant milestone for JWL, as it makes it the first rolling stock manufacturing company to have its wheel plant, as per JWL’s recent regulatory filing.

BIPL is located in Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra and is a renowned manufacturer of rolling stock wheelsets. With a production capacity of 20,000 Wheels and 10,000 Axles annually, the acquisition promises to boost JWL’s self-reliance and operational efficiency while reducing its dependence on imported wheels. BIPL’s clientele includes JWL, BEML Ltd., Alstom Rail Transportation India Pvt. Ltd., Plasser India Pvt. Ltd., and Titagarh Rail Systems Ltd.

Jupiter Wagons Limited, is a provider of comprehensive mobility solutions that cover rail, road, and marine transportation.JWL is committed to the Make in India initiative and is poised to invest an additional 1000 crores over the next two years. These investments will enhance production capacity and drive the plant towards full backward integration. The ultimate goal is to cater to the burgeoning needs of the Indian railway sector, with aspirations to transform it into an export hub, leveraging JWL’s existing esteemed partners.

Following the acquisition, Bonatrans Group, an existing shareholder and leading wheel manufacturer in Europe, will continue its vital role as a minority shareholder, ensuring continuity and synergy within the newly integrated structure.

JWL remains committed to innovation, sustainability, and contributing to the growth trajectory of the Indian transportation sector. The acquisition underscores its dedication to fostering indigenous manufacturing capabilities and fortifying the nation’s position on the global stage.

At 3:30 pm, the shares of JWL closed 3.22% higher at Rs 344.20 on NSE.