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.

Shares of Welspun Enterprises have moved higher by 13% to Rs 174 per share on the BSE 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 Tamil Nadu.

“NHAI has opened the Bid on May 9, 2018, entails the four-laning of the Sattanathapuram-Nagapattinam section of NH-45A (New NH-332) in Tamil Nadu 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,” Welspun Enterprises said in a