Jupiter Wagons' stock climbed 2.7% to ₹345 after the promoter increased its shareholding.
The company's promoter, Tatravagonka A.S., converted convertible warrants into 28.72 lakh ordinary shares at ₹470 each, paying about ₹135 crore. This raised its holding from 18.69% to 19.24% of the company.
The purchase sparked buying interest, marking the fourth straight day of gains and a cumulative rise of over 35% for the stock.
The 14‑day RSI is about 71, suggesting the stock is in overbought territory and could face a short‑term pullback. However, the price remains above most short‑term moving averages, keeping the overall trend bullish.
An increase in promoter ownership is often read as confidence in the business’s future. While the stock now trades at a premium, the move may signal longer‑term growth potential.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.
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