Jupiter Wagons announced on Monday, 5 October that its energy arm, JEM Energy, had secured two significant Battery Energy Storage System (BESS) contracts, prompting the share price to oscillate between gains and losses. The first contract is a 41 MW/102.5 MWh standalone BESS for Uttarakhand Power Corporation Limited (UPCL), won through a Tariff‑Based Competitive Bidding (TBCB) process as the L1 bidder for Cluster C. The second contract is a 50 MW/200 MWh standalone BESS at the Jeerat 132 kV substation in North 24 Parganas, West Bengal, awarded by West Bengal State Electricity Distribution Company Limited (WBSEDCL) with a formal Letter of Award (LoA) received in August 2026.

JEM Energy’s partnership with Madhav Infra Projects Limited enabled the successful bid for the UPCL project, positioning the company in a new state and reinforcing its presence in the energy transition ecosystem. The Uttarakhand contract aligns with the company’s broader strategy of expanding beyond traditional railway and mobility operations into high‑growth businesses. By securing both projects, Jupiter Wagons is building a scalable BESS portfolio that complements India’s Green Energy Corridor Phase‑III, which mandates 50 GWh of battery storage and stronger intra‑state transmission networks. These substation‑level deployments are seen as foundational to the national grid’s future resilience, allowing for smoother integration of renewable generation and reducing peak demand stresses across the network.

Vivek Lohia, Managing Director of Jupiter Wagons, highlighted that winning the Uttarakhand project and receiving the formal award for Jeerat are pivotal steps in scaling JEM Energy into a robust storage business. He reiterated the company’s target of building a BESS order book of approximately ₹1,000 crore by FY27 and projected that Jupiter Electric Mobility (JEM) would become EBITDA positive in Q3 FY27, achieving profitability by FY28. Lohia added that the firm would continue to bid for utility‑scale and commercial‑industrial (C&I) opportunities across India, aligning its growth with the Green Energy Corridor Phase‑III framework.

At 2:45 PM on 5 October, Jupiter Wagons shares traded at ₹224.58, up 0.29 %. The intraday range touched a high of ₹226.99 and a low of ₹218.61. Since the beginning of the year, the stock has fallen 33 %. Over the past month, it has declined 8 %, and over six months it has slipped 13 %. The shares reached a 52‑week high of ₹358.25 on 23 December 2025 and a 52‑week low of ₹218.45 on 29 September 2026. As of the reporting date, the company’s market capitalisation stood at ₹9,631.65 crore.

The company’s announcement follows the Union Cabinet’s approval of Green Energy Corridor Phase III, which earmarks 50 GWh of battery storage and enhances intra‑state transmission networks. Jupiter Wagons stated that substation‑level storage, such as the projects in Uttarakhand and West Bengal, is central to this framework and that JEM Energy is building its utility‑scale portfolio in line with the scheme. The firm’s market capitalisation of ₹9,631.65 crore reflects its current valuation, while the share price has experienced significant volatility since the start of the year. Investors are advised to consult a financial advisor before making decisions, as the article is purely informational.