Welspun Enterprises is currently trading at Rs. 177.50, up by 0.60 points or 0.34% from its previous closing of Rs. 176.90 on the BSE.
The scrip opened at Rs. 175.80 and has touched a high and low of Rs. 178.40 and Rs. 174.25 respectively. So far 17687 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.00 on 10-Jan-2018 and a 52 week low of Rs. 61.60 on 03-Feb-2017.
Last one week high and low of the scrip stood at Rs. 182.70 and Rs. 172.75 respectively. The current market cap of the company is Rs. 2609.86 crore.
The promoters holding in the company stood at 44.56%, while Institutions and Non-Institutions held 9.32% and 46.12% respectively.
Welspun Enterprises (WEL) has acquired 49% stake in the Chikhali-Tarsod NHAI HAM project in the state of Maharashtra, from Vishvaraj Group (VIL). WEL will be the sponsor to this project, thus expanding its HAM project portfolio to five projects worth over Rs 5,000 crore.
The consideration for this stake purchase is Rs 8.33 crore. The company has an option to acquire the remaining 51% stake as and when the regulator (NHAI) permits. The consideration for the purchase of the remaining stake is fixed at Rs 8.67 crore.
As per the Hybrid Annuity Model by NHAI, the project will have 40% financial support from NHAI. The debt component is estimated to be 48% of the project cost; and as sponsor, the balance will be funded by WEL (apart from the equity of VIL). The EPC contract of the project will be executed by WEL.
Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.