Welspun Enterprises` gains as its arm secures new order worth Rs 328.12 crore in JV from BMC
Welspun Enterprises is currently trading at Rs. 511.35, up by 3.45 points or 0.68% from its previous closing of Rs. 507.90 on the BSE.
The scrip opened at Rs. 520.05 and has touched a high and low of Rs. 529.50 and Rs. 506.50 respectively. So far 8502 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 664.10 on 08-Jan-2025 and a 52 week low of Rs. 299.00 on 26-Mar-2024.
Last one week high and low of the scrip stood at Rs. 529.00 and Rs. 460.05 respectively. The current market cap of the company is Rs. 7096.48 crore.
The promoters holding in the company stood at 54.80%, while Institutions and Non-Institutions held 7.63% and 37.57% respectively.
Welspun Enterprises’ subsidiary -- Welspun Michigan Engineers (WMEL) in joint venture with Aaradhyaa & Co (WMEL-ANC JV) has been awarded a contract by the Brihanmumbai Municipal Corporation (BMC) for upgrading the Haji Ali Storm Water Pumping Station in G/S Ward, Mumbai. WMEL holds a 75% stake in the joint venture.
The contract, valued at Rs 328.12 crore (with GST), includes the upgradation of the storm water pumping station, along with complete mechanical, electrical, instrumentation and automation systems and civil repair works. WMEL share of contract value is Rs 208.55 crore i.e. 75% of the contract value, excluding GST.
The project is scheduled for completion within 18 months (excluding monsoons). Additionally, the contract encompasses a comprehensive operations and maintenance (O&M) phase for 15 years.
Welspun Enterprises (WEL) (Formerly known as Welspun Projects), part of the Welspun Group, is an operating Company as well as a holding company. The Company’s key activity is in the infrastructure business.
