The shares of an infrastructure company, specializing in designing, building, and operating large-scale infrastructure projects jumped upto 5 percent upon receiving a work order for Rs. 328.12 Crore from Brihanmumbai Municipal Corporation (BMC).
Price action
With a market capitalization of Rs. 7,129.00 crores on Wednesday, the shares of Welspun Enterprises Limited jumped upto 4.25 percent, making a High of Rs. 529.50 per share compared to its previous closing price of Rs. 507.90 per share.
What Happend
Welspun Enterprises’s subsidiary, Welspun Michigan Engineers Limited (WMEL), has received a work contract from Brihanmumbai Municipal Corporation (BMC) for Rs. 328.12 crores to upgrade of the storm water pumping station, which includes supply, delivery, erection, commissioning of mechanical, electrical, instrumentation and automation works with repairs of civil works followed by comprehensive operation and maintenance of Haji Ali Storm Water Pumping Station in Mumbai.
Additionally, it involves upgrading the station and providing 15 years of operations and maintenance. The project is set to be completed within 18 months, starting from October 2025, excluding the monsoon season.
About the Company
Welspun Enterprises Ltd is a prominent infrastructure development company in India. It focuses on sectors like roads, water, and urban infrastructure. Welspun Enterprises also engages in public-private partnership (PPP) ventures. With a strong portfolio of completed projects, it is known for its commitment to quality and innovation in the infrastructure space.
Orderbook Breakup
The total order book of Rs. 14,500 Crore is distributed as follows: Water – Rs. 9,280 Crore (64 percent), Tunneling – Rs. 2,030 Crore (14 percent), Road –Rs. 1,740 Crore (12 percent), and WMEL – Rs. 1,450 Crore (10 percent), indicating strong sectoral growth potential.
Financials
The company’s revenue rose by 21.89 percent from Rs. 753.92 crore to Rs. 918.96 crore in Q3FY24 -25. Meanwhile, Net profit fell from Rs. 71.55 crore to Rs. 71.49 crore during the same period.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
