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Welspun Enterprises soars on securing contract for Water Treatment Plant at Bhandup
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Welspun Enterprises is currently trading at Rs. 330.05, up by 15.65 points or 4.98% from its previous closing of Rs. 314.40 on the BSE.
The scrip opened at Rs. 337.60 and has touched a high and low of Rs. 342.05 and Rs. 328.60 respectively. So far 21956 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 382.70 on 08-Feb-2024 and a 52 week low of Rs. 121.10 on 22-Mar-2023.
Last one week high and low of the scrip stood at Rs. 342.05 and Rs. 304.35 respectively. The current market cap of the company is Rs. 4351.73 crore.
The promoters holding in the company stood at 54.51%, while Institutions and Non-Institutions held 6.56% and 38.92% respectively.
Welspun Enterprises (WEL) has secured a significant contract to Design, Build and Operate a 2,000 MLD (million litres per day) Water Treatment Plant (WTP) at Bhandup Complex in Mumbai, from the Brihanmumbai Municipal Corporation (BMC).
The contract, valued at Rs 4,123.88 crore, encompasses the design, construction, and operations & maintenance of the plant. The value includes an Operations and Maintenance (O&M) component of Rs 1,880.44 crore. The design?build project is slated to be completed within a timeframe of 48 months, following which WEL will undertake O&M responsibilities for a period of 15 years.
The proposed water treatment plant, one of the largest in the world in terms of capacity, is located at BMC’s Bhandup Complex, which currently supplies drinking water to Mumbai City through existing Water Treatment Plants. WEL has partnered with Veolia, one of the world’s largest technology company specializing in the water sector, as its Technology provider for the upcoming plant. WEL aims to leverage advanced treatment processes and technologies, in line with its commitment to maximizing resource utilization and developing sustainable infrastructure solutions.
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.
