Welspun Specialty Solutions gained 4.57% to Rs 31.36 after the company was selected as the L1 bidder (lowest bidder) by Bharat Heavy Electricals (BHEL, Trichy) for a major supply contract of stainless steel seamless boiler tubes.
The contract, valued at approximately Rs 231.77 crore, involves the supply of around 4,050 tons of specialized tubes for a series of supercritical thermal power projects.
The formal contract is expected to be released following BHEL's internal approval process. Welspun Specialty's successful bid follows a rigorous evaluation and approval by BHEL.
Welspun Specialty Solutions is primarily engaged in the manufacturing and distribution of steel and steel products.
Navratna PSU BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors.
Shares of BHEL were up 2.73% at Rs 197.60 on the BSE.
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