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Welspun’s Shares Zoomed to a 52-week high after Winning a Rs 4,128 Crore BMC Project

Shares of Welspun Enterprises Ltd jumped on winning a Rs 4,128 crore contract the BMC.

Shares of Welspun Enterprises Ltd jumped 3% to a 52-week high on winning a contract worth Rs 4,128 crore from the Brihanmumbai Municipal Corporation (BMC). 

As per the company’s exchange filings, it was declared as an L1 bidder by Brihanmumbai Municipal Corporation (BMC) for a Design Build and Operate (DBO) contract for the development of a new 2,000 MLD (million litres a day) Water Treatment Plant at the Bhandup complex, including the civil, mechanical, electrical and instrumentation.  

The project is to be designed and constructed within 48 months and will be comprehensively operated and maintained for 15 years thereafter. The total value of the contract is approximately Rs 4,128 crores, excluding Goods and Services Tax (GST).

Further, the trading window for the designated persons will be closed with effect from February 7, 2024, till further developments.

Welspun Enterprises Limited is an infrastructure developer company with a difference. The company has its presence in roadways, waterways, and oil & gas sectors with a focus on sustainability. 

At 3.07 pm, the shares of the company were trading at Rs 366, which is 1.26% higher than its previous close on the National Stock Exchange (NSE). 

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