Welspun Specialty stock hits 5% upper circuit on Rs 232-cr order win

Welspun Specialty share price: Welspun Specialty shares were in demand on Wednesday, March 5, as the scrip was locked in the 5 per cent upper circuit at Rs 31.48 per share. 

 

The uptick in Welspun Specialty share price came after the company was notified as L1 bidder by Bharat Heavy Electricals Limited (BHEL, Trichy) for a project worth about Rs 231.77 crore, excluding GST.  

 

The order is for the supply of approximately 4,050 tonnes of Stainless steel Seamless Boiler Tubes for a series of Super critical Thermal Power Projects. 

 

In an exchange filing, Welpsuin Specialty said, We are pleased to inform that Welspun Specialty Solutions Limited (WSSL) has been notified as L1 bidder by Bharat Heavy Electricals Limited (BHEL, Trichy) for supply of approx 4,050 tons of Stainless steel Seamless Boiler Tubes for series of Super critical Thermal Power Projects.”

 

The company further said that a formal contract will be released after an internal approval process at BHEL.   READ: Stock Market Updates LIVE

 

About Welspun Specialty

 

Welspun Specialty Solutions Limited (WSSL) is among the leading manufacturers of steel and steel products based in India. 

 

A subsidiary of Welspun Corp Ltd, which is part of the Welspun World conglomerate, WSSL specialises in a wide range of products, including billets, blooms, ingots, rolled bars, bright bars, and seamless pipes and tubes. 

 

These products cater to various industries such as automotive, energy, defense, nuclear power, aerospace, and more. The company produces high-quality alloy steel, including bearing steel and micro alloyed steel, as well as stainless and Ni-alloy steel, including ferritic and austenitic stainless steels.

 

With a state-of-the-art facility that includes a fully integrated steel melting shop, rolling facility, and seamless pipes plant, WSSL has a steel-making capacity of approximately 150,000 metric tons per annum. The company is also the only integrated producer of stainless steel pipes and tubes in India. 

 

Welspun Specialty has a market capitalisation of Rs 2,083.91 crore, according to BSE. The company falls under the BSE SmallCap category.

 

At 9:32 AM, Welspun Specialty share price was trading 4.87 per cent higher at Rs 31.45. In comparison, BSE Sensex was trading 0.49 per cent higher at 73,350.90 levels.