The shares of W S Industries (India) Limited started their trading session today at Rs 102.60 and, post that, the scrip is locked in the 5 percent upper circuit at Rs 102.82. The same price is marked to be the new 52-week high price for the company.
In the last five trading sessions, the stock has gained around 23 percent ranging from Rs 83.85 to the current price levels. It has a market capitalization of Rs 430 crores.
Such movements in the stock prices were observed after the company, through a regulatory filing with the BSE today, announced that it has bagged a couple of orders aggregating to a total of Rs 371.82 crores in Tamil Nadu.
Firstly, it received an order from ‘M/s Trineva Infra Projects Private Limited’ pertaining to a comprehensive water supply scheme worth Rs 317.29 crores. The time of execution of the order is fixed to be 17 months.
Another order has been awarded to the company by M/s CMK Projects Private Limited with regard to storm drainage work worth Rs 54.53 crores. The time of execution of the order is fixed to be 20 months.
Both the orders, as disclosed by the company, are related party transactions and conducted at arms length.
Having a glance at the consolidated financial results of the company, it has started to generate revenues in FY22-23 of Rs 79 crores and reported net profit figures of Rs 19 crores. Moreover, the company has been able to report decent return on equity (ROE) numbers of 30.23 percent during FY22-23.
W S Industries (India) Limited is a firm based in India that is involved in the process of manufacturing as well as selling porcelain insulators. The company also undertakes various turnkey projects.
Written by Amit Madnani
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