Walchandnagar Ind hits 20% upper circuit after winning order from ISRO

Walchandnagar Industries (WIL), the heavy engineering products company, hit an upper circuit limit of 20 per cent at Rs 72.15 apiece on the BSE after the company secured an order worth Rs 77.20 crore plus escalation from the Vikram Sarabhai Space Centre of Indian Space Research Organisation (ISRO).

The order is towards manufacturing and supply of Head, Middle and Nozzle End segments (total 30 nos) for the GSLV M Klll launch vehicle. It is WlL's second largest single order from ISRO and the largest as far asthe GSLV-M Klll launch vehicle is concerned, the company said in its release. 

WIL has been a strategic partner to ISRO since the 1970s and has supplied critical launch vehicle hardware for all its programs (SLV, ASLV, PSLV, GSLV, and GSLV-M Klll) including the latest Chandrayaan-2 mission.

At 11:10 am, the stock was trading 18 per cent higher at Rs 71 apiece. A total of 15,88,894 shares changed hands on the BSE and NSE till the time of writing this report. In comparison, the S&P BSE Sensex was ruling at 37,333 levels, up 63 points or 0.17 per cent. 

According to its website, WIL was established in 1908. It has a presence in strategic sectors like Defence, Nuclear & Aerospace and Industrial Products like Gears, Centrifugals, Castings and Guages. Besides, it also has a presence in Oil & Gas, Railways and in Engineering, Procurement and Construction (EPC) sectors through its offerings for Sugar Plants, Co – Generation Boilers and Cement Plants.