Shares of Jupiter Wagons Ltd. opened 2% higher during the early trading hours on 12 March after the company announced securing a Rs 957 crore order. However, the shares crashed 6% and hit an intraday low of Rs 339.50.

In its regulatory filing, the company announced that it had received an order from the Ministry of Railways to manufacture and supply 2,237 BOSM wagons. These wagons are efficiently designed for transporting bulk goods, including coal and ore, within the Indian railway network.

This initiative will help contribute to a smoother trade and foster economic growth in the country’s regions.

The company added, “We eagerly anticipate playing a pivotal role in the realisation of the government’s visionary goals, leveraging our expertise and resources to contribute meaningfully to the advancement of India’s railway infrastructure.”

Earlier in January, the company secured an order from one of the leading automobile manufacturers for the manufacturing and supply of four rakes of double-decker automobile carrier wagons for a total consideration of Rs 100 crore.

The latest double-decker automobile carrier wagon is capable of transporting SUV editions on both the bottom and top deck and is equipped with advanced technologies.

At 2:00 pm, the shares of Jupiter Wagon were trading 5.83% lower at Rs 341.85 on NSE.