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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The cash-rich, debt-light company, which counts the railways as its top client, is riding a wave of an upbeat rail freight market. But will its commercial EV plans come to fruition?
Editor's note: Within six months of listing, railway parts manufacturer Jupiter Wagons has seen its stock jump over 65% to hit a 52-week high last week. Even though it’s fairly new at the bourses, the Kolkata-headquartered company, which counts the Indian Railways among its top clients, has been in the wagon-making business for the past 16 years. Armed with an A+ rating from ratings agency ICRA, the company boasts robust financials. Jupiter Wagons’s turnover crossed Rs 1,000 crore last fiscal year. For the quarter ended 30 September 2022, its operating profit margins rose to 12.22% from 9.97% in the same period last fiscal. It claims to have a full order book for its wagons until 2024. And an upbeat rail freight market comes as a boost. “The company’s wagon and commercial [vehicle] body-building business has been a beneficiary of the current upcycle in the market. Its peers in the space, like Titagarh Wagons, have also been doing well,” says Abhishek Basumallick, founder of equity research service firm Intelsense. But Jupiter Wagons is not done yet. The company plans to unveil two commercial …
FY26 numbers for the three major CV makers show resilience and all-around growth. This doesn’t look anything like the undifferentiated sector it once was.
The Centre has proposed to open up the retail electricity market, hoping competition will fix India’s loss-making discoms. The states fear a power grab. The outcome will shape the next phase of India’s energy transition.
From net debt-free to billions in bridge financing, the Iveco acquisition means the automaker’s commercial vehicles business begins its independent journey on fragile financial ground.
