Jupiter Wagons has set the floor price for its Qualified Institutional Placement (QIP) at ₹689.47 per share. The QIP issue opened on Monday, following a board meeting where the decision was made. The announcement was made later that evening. On the same day, Jupiter Wagons shares closed at ₹722.60 on the NSE, down by ₹7.40 or 1.01%.
For the quarter ending March 31, 2024, the company reported a consolidated net profit of ₹105 crore, a significant increase from the ₹39 crore profit in the same period last year. In the previous quarter, Jupiter Wagons reported a net profit of ₹81.5 crore.
The company’s total consolidated revenue for the quarter was ₹1,127 crore, up from ₹712.7 crore in the same quarter of the previous year. For the quarter ending December, the revenue was ₹900.8 crore.
Over the past 12 months, Jupiter Wagons’ stock has given a remarkable return of 319%, far outperforming the Nifty index, which returned 25% in the same period. In 2024 alone, the stock has yielded a 126% return.
The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of ₹571 and ₹402, respectively. However, it is approaching an overbought zone with its RSI and MFI indicators near 69 and 64, respectively (above 70 is considered overbought, while below 30 is oversold).
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