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Jupiter Wagons 6% off lows on Lithium-Ion Phosphate battery breakthrough

The rise came after Jupiter Electric Mobility in pact with Log9 Materials, announced that it has achieved a major milestone in development & certification of their LFP battery technology

BSE, NSE, Indian share market, Stock market

(Photo: Bloomberg)

SI Reporter New Delhi

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Jupiter Wagons in focus: Shares of Jupiter Wagons surged as much as 5.84 per cent from days’ low to hit an intraday high of Rs 700.70 per share on Thursday, June 20, 2024.

The rise in share price came after Jupiter Electric Mobility Private Limited, a subsidiary of Jupiter Wagons, in partnership with Log9 Materials, announced that it has achieved a major milestone in the development and certification of their Lithium-Ion Phosphate (LFP) battery technology. This advancement is set to enhance the efficiency and sustainability of rail transport in India.

Jupiter Wagons has achieved several milestones in advancing rail transport sustainability through its LFP battery technology. The company successfully completed a six-month trial and obtained Research Designs and Standards Organisation (RDSO) certification for their 11.2 kWh LFP battery pack, becoming the first company to do so. 

Additionally, Jupiter Wagons secured a major purchase order from Siemens to supply 36 auxiliary batteries, each boasting a 72.8 kWh capacity for 9 Vande Bharat Trainsets. These batteries received RDSO approval, affirming their performance and safety standards. 

Furthermore, BHEL has provided technical qualification for Jupiter's 72.8 kWh LFP battery pack, stressing upon its robustness and technical excellence for Vande Bharat Trainsets. 

"These accomplishments underscore our steadfast dedication to innovation and excellence in railway technology. The RDSO certification, the confidence shown by Siemens, and the technical qualification by BHEL are clear indicators of the superior quality and dependability of our LFP battery solutions. Given the significant demand from Indian Railways and the shift from conventional energy sources towards sustainable and energy efficient solutions, we believe this business can emerge as a significant contributor to overall revenues over a medium to long-term horizon,” said Vivek Lohia, managing director of Jupiter Wagons.

Jupiter Wagons Limited offers a wide range of mobility solutions, encompassing Freight Wagons, Locomotives, Passenger Coaches (LHB), Braking Systems, Metro Coaches, Commercial Vehicles, ISO Marine Containers, and various components like Couplers, Draft Gears, Bogies, and CMS Crossings. 

JWL operates manufacturing facilities in Kolkata, Jamshedpur, Indore, and Jabalpur, which are fully integrated with foundry operations. 

The company has established strategic partnerships with leading global firms such as Tatravagonka (Slovakia), DAKO-CZ (Czech Republic), Kovis Proizvodna (Slovenia), Telleres Alegria S.A (Spain), Frenoplast S.A (Poland), and LAF-CIM Group (France).

At 2:40 PM, shares of JWL were trading 3.09 per cent higher at Rs 695.80. In comparison, BSE Sensex was trading 0.17 per cent higher at 77,468.28 levels. 

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First Published: Jun 20 2024 | 2:50 PM IST

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