Jupiter Wagons shares surge 10% as arm signs two MoUs on Monday; everything investors need to know

Jupiter Wagons shares jumped 10% to touch an intraday high of ₹303.90 apiece on Monday, May 25, after the firm’s subsidiary Jupiter Electric Mobility signed two formal MoUs with Chalukya Power and Pickrenew Energy.

“The agreements add 110 MWh of Battery Energy Storage System (BESS) business, comprising a mix of utility-scale and commercial and industrial (C&I) deployments, to JEM Energy's order book for FY 2026-27,” the firm said in a statement.

The company is targeting ₹200 crore in combined order books in the battery and BESS segments within the current financial year (FY2026-27), reflecting strong and accelerating commercial momentum across both private and institutional segments.

Jupiter Wagons further said that the MoUs with Chalukya Power and Pickrenew Energy represent a significant step in JEM Energy's strategy to establish itself as a leading indigenous BESS solutions provider in India. The agreements span utility-scale projects supporting grid stability and renewable energy integration, as well as C&I deployments serving industrial consumers seeking reliable, cost-efficient energy management.

Looking ahead to FY 2027-28, JEM Energy is targeting ₹500 crore revenue in the battery and BESS vertical. As the business scales and operating leverage builds, the company is confident of EBITA positive by FY28, underpinned by a growing orderbook, expanding client relationships, and continued advancement in its battery and integration capabilities.

“Signing MoUs with Chalukya Power and Pickrenew Energy is a milestone we are genuinely proud of. These are not transactional agreements. They represent the beginning of longterm partnerships with developers who have evaluated our capabilities rigorously and chosen JEM Energy as their BESS partner,” said Kartik Hajela, CEO, JEM Energy.

Over a three-year horizon, JEM Energy has set a target of ₹1,000 crore revenue in battery and BESS vertical by FY 2029-30.  

Jupiter Wagons share price

At 2:50 PM, Jupiter Wagons shares were trading at ₹297.70 apiece on NSE, gaining 7.49%.

Over the last five trading sessions, it has jumped 9%. In a month, shares of the firm have gained 2%, while they have slumped 12% since the beginning of 2025. The company has a market capitalisation of ₹12,722.82 crore.

The stock is, however, trading over 27.5% lower than its 52-week high of ₹419.4, which was hit on May 28, 2025. Its one-year low of ₹235.65 was touched on March 30, 2026.