Welspun Enterprises zooms 3% to 52-week high on winning Rs 4,128-cr BMC project

Welspun Enterprises zooms 3% to 52-week high on winning Rs 4,128-cr BMC project

In the quarter ended December, the company posted net profit of Rs 79.92 crore against Rs 401.58 crore, YoY.

Welspun Enterprises

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$(“.linkSignUp”).click();
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}
}

The share price of Welspun Enterprises gained more than 3 percent to hit a 52-week high of Rs 382.70 in the early trade on February 8 after the company was declared the L1 bidder by the Brihanmumbai Municipal Corporation (BMC) for a design, build and operate (DBO) contract for development of new 2,000 MLD water treatment plant at Bhandup complex including civil, mechanical, electrical and instrumentation.

At 9:33am, Welspun Enterprises was quoting at Rs 373.50, up Rs 11.65, or 3.22 percent, on the BSE.

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The project is to be designed and constructed within 48 months and is to be comprehensively operated and maintained for a period of 15 years thereafter.

The total contract value is pegged at Rs 4,128 crore (design and build value at Rs 2,248 crore and operate and maintenance value of Rs 1,880 crore).

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Ahmedabad Bench of National Company Law Tribunal (NCLT) has sanctioned the Scheme of Amalgamation of Welspun Infraconstruct Private Limited, Welspun-Kaveri Infraprojects JV Private Limited, Corbello Trading Private Limited and RGY Roads Private Limited with Welspun Enterprises and their respective shareholders.

The company is taking necessary steps and actions for making the scheme effective and shall intimate once the scheme is made effective.

In the quarter ended December, the company posted a net profit of Rs 79.92 crore against Rs 401.58 crore, YoY.

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