Shares of Jupiter Wagons Ltd rose over 5% on October 31 following the announcement that its subsidiary, Jupiter Electric Mobility (JEM), has acquired Log9’s Railway Battery and Electric Truck Battery divisions. This acquisition, encompassing Log9’s technology, production assets, and Devanahalli manufacturing facility, aims to bolster JEM’s presence in India’s electric mobility sector with advanced battery solutions for both electric trucks and railways.
According to JWL’s Managing Director, Vivek Lohia, the integration of Log9’s expertise aligns with the strategic objectives of JEM on pioneering sustainable energy innovations within the rail and EV sectors. The news drove Jupiter Wagons shares up 5.42% to an intraday high of Rs 513.05 on the NSE, reflecting strong investor confidence in the acquisition’s potential to enhance JEM’s technological and manufacturing capabilities.
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Source: Moneycontrol
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