Welspun Enterprises announces new projects, scrip shoots up
DSIJ Intelligence / 01 Sep 2017
In the wake of the company announcing that it has been awarded a project worth Rs 1,161 crores, the shares of Welspun Enterprises rose by over 3% intraday during Thursday’s trading session.
In the wake of the company announcing that it has been awarded a project worth Rs 1,161 crores, the shares of Welspun Enterprises rose by over 3% intraday during Thursday’s trading session. The order was received from National Highways Authority of India (NHAI) for six-laning of the Aunta-Simaria section of NH 31 in the state of Bihar on a Hybrid Annuity Model (HAM).
The company will develop the project stretch of 8.15 km at a bid project cost of Rs 1,161 crore and shall receive Rs 9.90 crore per year as O&M payments along with the annuity and interest thereon from NHAI for a period of 15 years post-construction. With the award of this project, the company has built a portfolio of four HAM projects totalling Rs 4,129 crores.
Meanwhile, the stock of Welspun Enterprises was trading up by 3.71% at Rs 141 per share on the BSE at 1025 hours. It opened at Rs 140 per share. The stock also witnessed a spurt in volume by more than 1.19 times on Friday and attracted total traded volume of 5,03,632 shares and traded value of Rs 712.74 lakhs on the NSE at 1027 hours.
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