Welspun Specialty Solutions surged 5.62% to Rs 43.60 after the company emerged as L-1 (lowest) bidder by Bharat Heavy Electricals (BHEL) for Rs 117.17 crore.
The project includes supply of stainless steel boiler tubes for NTPC Talcher 2 x 660 MW Super critical Thermal Power Project.The project expected to be executed by December 2024. The contract value is Rs 117.17 crore.
Welspun Specialty Solutions is primarily engaged in the business of manufacture and distribution of steel and steel products and revenue from such products is derived from transfer at a point in time which is shown under sale of products.
The company reported standalone net profit of Rs 40.03 crore in Q4 FY24, steeply higer than Rs 8.06 crore recorded in Q4 FY23. Revenue from operations increased 9.8% YoY to Rs 151.27 crore in Q4 FY24.
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