Welspun Enterprises bags Rs 1,161 crore project

The shares of Welspun Enterprises rose by over 3% intraday during Thursday’s trading session after the company informed that it has received the letter of award for Rs 1,161 crore project.

Sep 01, 2017 10:09 IST India Infoline News Service

The shares of Welspun Enterprises rose by over 3% intraday during Thursday’s trading session after the company informed that it has received the letter of award for Rs 1,161 crore project.
 
The order was received from National Highways Authority of India (NHAI) for the six-laning of Aunta-Simaria section of NH-31 in the state of Bihar on Hybrid Annuity Model (HAM).
 
The company will develop the project stretch of 8.15 km at a bid project cost of Rs 1,161 crore and shall receive Rs 9.90 crore per year as O&M payments along with the annuity and interest thereon from NHAI for a period of 15 years post construction. With the award of this project, the company has built a portfolio of four HAM projects totalling to Rs 4,129 crore.
 
Meanwhile, the stock  of Welspun Enterpriseswas trading up by 3.71% at Rs 141 per share on BSE at 1025 hours. It opened at Rs 140 per share. The stock also witnessed a spurt in volume by more than 1.19 times on Friday. It attracted total traded volume of 5,03,632 shares and traded value of Rs 712.74 lakh on NSE at 1027 hours.

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