Welspun Enterprises wins contract worth ₹1,990 Crore from BMC

30 Sep 2024 , 03:04 PM

Welspun Enterprises’ stock jumped 3% in early trading on September 30 after the company received an order for ₹1,989.9 Crore from the Brihanmumbai Municipal Corporation (BMC).

The contract’s principal scope involves the design and construction of an 8.48 km tunnel with a bored diameter of 3,500 mm, which will be completed in 93 months using a tunnel boring machine.

The Brihanmumbai Municipal Corporation has declared the company as the low-bidder for a design-and-build contract for the Tertiary Treated Water Conveyance Tunnel from Dharavi WWTF to Ghatkopar WWTF.

On August 26, 2024 and October 26, 2023, the stock reached a 52-week high of ₹619.00 and a 52-week low of ₹241.00.

The stock is currently trading 10.07% below its 52-week high and 130.98 percent higher than its 52-week low.

WEL’s infrastructure projects include roads and highways, water supply and wastewater projects, and transportation-related operation and maintenance (O&M) activities. Some of their significant projects include the Delhi-Meerut Motorway, the four-lane Chutmulpur-Ganeshpur highway, and the six-lane Aunta-Simaria road. 

At around closing Welspun Enterprises was trading marginally higher at ₹557.40, against the previous close of ₹557.25 on NSE.

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