Welspun Enterprises rises as its arm receives LoA from BMC
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Welspun Enterprises is currently trading at Rs. 576.80, up by 9.55 points or 1.68% from its previous closing of Rs. 567.25 on the BSE.
The scrip opened at Rs. 585.80 and has touched a high and low of Rs. 587.20 and Rs. 576.00 respectively. So far 8714 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 589.35 on 13-Aug-2024 and a 52 week low of Rs. 241.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 587.20 and Rs. 550.45 respectively. The current market cap of the company is Rs. 7851.52 crore.
The promoters holding in the company stood at 54.51%, while Institutions and Non-Institutions held 6.48% and 39.01% respectively.
Welspun Enterprises’ material subsidiary-- Welspun Michigan Engineers (WMEL) has been awarded the Letter of Acceptance (LoA) by the Brihanmumbai Municipal Corporation (BMC). This LoA pertains to Rehabilitation of man-entry sewers by trenchless technology, lines –17km (dia 1000mm to 1800mm), in the suburbs of Mumbai City (the project). The contract value excluding GST is Rs 159.75 crore. This Project is to be executed within a period of 24 months (excluding monsoon) from the date of notice of commencement.
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.
