Walchandnagar Industries wins Rs77.2cr contract from ISRO; stock climbs 10%

The receipt of this order is a significant milestone for the Aerospace business of WIL as it contributes to a strong order book in this strategic segment.

Sep 12, 2019 09:09 IST India Infoline News Service

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Walchandnagar Industries Ltd (WIL) secured an order worth Rs77.2cr plus escalation from the Vikram Sarabhai Space Centre of ISRO located at Thiruvananthapuram.

The order is towards manufacturing and supply of Head, Middle and Nozzle End segments (total 30 nos) for the GSLV M Klll launch vehicle. It is WlL's second-largest single order from ISRO and the largest as far as the GSLV-M Klll launch vehicle is concerned, the company said in a filing.

Receipt of this order is a significant milestone for the Aerospace business of WIL as it contributes to a strong order book in this strategic segment, the company said.

Walchandnagar Industries Ltd is currently trading at Rs67.30, up by Rs7.15 or 11.89% from its previous closing of Rs60.15 on the BSE.

The scrip opened at Rs63.75 and has touched a high and low of Rs68.40 and Rs63.45 respectively.

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