Jupiter Wagons Eyes Breakout Above ₹420 After Vande Bharat Order Win: SEBI Analyst

The company is also ramping up long-term capacity with a new Odisha plant that will boost annual forged wheelset output fivefold to 1,00,000 units by 2027.

Jupiter Wagons shares surged nearly 10% on Thursday after its subsidiary, Jupiter Tatravagonka Railwheel Factory Private, bagged a mega order. 

Its subsidiary received a Letter of Intent for the supply of 5,376 wheelsets valued at ₹215 crore for the Vande Bharat train project. 

The order includes 2,688 motor wheelsets and 2,688 trailer wheelsets. The company said the deal strengthens its position in the passenger, freight, and high-speed rail segments. 

It is also building a new production facility in Odisha that will raise annual forged wheelset capacity fivefold to 1,00,000 by 2027, with an investment of ₹2,500 crore.

Technical Outlook

SEBI-registered analyst Prabhat Mittal said that in the financial year 2023–2024, the stock gave a seven times return to investors. He noted the stock corrected by almost 66% from its highs during the market correction between July 2024 and March 2025. 

On the medium-term chart, he said the stock took first support around ₹420, and after the breakdown, the stock took resistance at the same level, calling it “the perfect example of support became resistance.” 

Mittal highlighted that ₹420–₹430 is a major hurdle for the stock. 

He advised that traders can buy at the current price of ₹366 with a strict stop loss of ₹345 for a target of ₹420, adding that after a breakout above ₹420, the stock can move up to ₹550.

What Is The Retail Mood?

On Stocktwits, retail sentiment was ‘neutral’ amid ‘extremely high’ message volume.

Jupiter Wagons’ stock has declined 28.7% so far in 2025.

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