Welspun Enterprises surges with arm signing Concession Agreement

11 Jan 2019

Welspun Enterprises is currently trading at Rs. 111.65, up by 2.65 points or 2.43% from its previous closing of Rs. 109.00 on the BSE.

The scrip opened at Rs. 110.50 and has touched a high and low of Rs. 113.00 and Rs. 110.50 respectively. So far 8685 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 202.85 on 28-May-2018 and a 52 week low of Rs. 101.00 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 114.85 and Rs. 108.45 respectively. The current market cap of the company is Rs. 1614.11 crore.

The promoters holding in the company stood at 46.04%, while Institutions and Non-Institutions held 7.89% and 46.07% respectively.

Welspun Enterprises’ wholly owned subsidiary -- Welspun Road Infra (WRIPL) and Public Works Development of Maharashtra have executed the Concession Agreement on January 10, 2019 for upgradation of Roads/ Two Laning of Roads/ Two Laning of Roads with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2 Under Public Works Circle, Amravati in Maharashtra State.

WRIPL will develop the project at a bid project cost of Rs 1,460 crore and first year O&M cost of Rs 31.50 crore. The construction period is 2 years from the appointed date and O&M period is 10 years after commercial operation date.

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.

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