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Walchandnagar Industries shines on entering into contract with VSSC for PSLV program

23 Jan 2019

Walchandnagar Industries is currently trading at Rs. 99.85, up by 4.55 points or 4.77% from its previous closing of Rs. 95.30 on the BSE.

The scrip opened at Rs. 101.75 and has touched a high and low of Rs. 103.80 and Rs. 99.85 respectively. So far 85177 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 224.30 on 23-Jan-2018 and a 52 week low of Rs. 82.00 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 103.80 and Rs. 94.25 respectively. The current market cap of the company is Rs. 362.81 crore.

The promoters holding in the company stood at 55.00%, while Institutions and Non-Institutions held 4.11% and 40.89% respectively.

Walchandnagar Industries and Indian Space Research Organization’s Vikram Sarabhai Space Centre (VSSC) have entered into a contract. As per the contract, Walchandnagar Industries will manufacture and supply ‘S -139 End Segments’ for the Polar Satellite Launch Vehicle (PSLV) program.

The contract value is Rs 96 crore plus escalation and is likely to be executed over a period of three years. This is the company’s highest ever single order received from VSSC and is seen as a major boost for the company’s Aerospace business.

Walchandnagar Industries is a high-tech heavy engineering company, manufacturing critical equipment for India's diverse requirements in the field of defence, nuclear power and space programmes.

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