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Welspun Enterprises up 13% on emerging as lowest bidder for TN road project

The stock moved higher by 13% to Rs 174 on the BSE after the company said it has emerged as the lowest bidder (L1) for a National Highways Authority of India project in the state of Tamil Nadu.

SI Reporter  |  Mumbai 

NHAI, road, construction, highways

Shares of have moved higher by 13% to Rs 174 per share on the after the company said it has emerged as the lowest bidder (L1) for a National Highways Authority of India (NHAI) project in the state of

has opened the Bid on May 9, 2018, entails the four-laning of the Sattanathapuram-Nagapattinam section of NH-45A (New NH-332) in under NHDP Phase-W on Hybrid Annuity Mode. The consortium led by the Company has emerged as the lowest bidder (L-I) at bid price of Rs 18.37 billion,” said in a regulatory filing.

The Company said it has not received any formal communication (“Letter of Award”) from in this regard. The Company will make appropriate disclosures pursuant to the aforesaid regulations and the code on receipt of confirmation/information/award from NHAI, it added.

At 02:06 pm; the stock was up 12% at Rs 172, as compared to 0.02% decline in the S&P Sensex. The trading volumes on the counter jumped multiple-fold with a combined 3.69 million shares changed hands on the and so far.


First Published: Thu, May 10 2018. 14:09 IST
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