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Welspun Specialty shares hit 5 per cent upper circuit on BSE at Rs 30.63 per share in Tuesday's trade. The buying interest on the counter came after the company emerged as an L1 bidder for around Rs 231 crore order from Bharat Heavy Electricals (BHEL).
Around 9:48 AM, Welspun Specialty share price was up 3.5 per cent at Rs 30.2 per share on BSE. In comparison, the BSE Sensex was up 0.58 per cent at 74,255.08. The market capitalisation of the company stood at Rs 2,001.09 crore. The 52-week high of the stock was at Rs 55.54 per share and the 52-week low was at Rs 28.5 per share.
Under the contract Welspun Specialty will supply approx 4,050 tons of stainless steel seamless boiler tubes for series of super critical thermal power projects to BHEL. The order is worth Rs 231.78 crore (excluding GST) and is expected to be executed progressively during next 13 months (April 2026).
"Pursuant to announcement made on March 4, 2025, regarding BHEL (Trichy) notification to Welspun Specialty Solutions Limited as L1 bidder," the filing read.
Recently, the company's board approved raising funds up to Rs 350 crore by way of a rights issue. The company offered 13,25,22,289 rights equity shares for an amount aggregating to Rs 349.86 crore. The rights issue price was set at Rs 26.4 per rights equity share. The record date for the rights issue is set as March 1, 2025. The offer will open on Monday, March 10, 2025, and will close on Wednesday, March 19, 2025.
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Welspun Specialty Solutions produces various Alloy Steel grades through the Electric Arc Furnace (EAF) and Ladle Refining Furnace (LRF) VD route, with a heat size of 35 tons. Stainless Steel is produced through EAF/EF, LRF, VD, and AOD/VOD routes. The products are cast through both, the continuous cast, as well as the ingot route.
The company's precision rolling mill downstream, has a capacity of 125,000 MT annually, catering to a wide size range of 45 mm to 300 mm Rounds and 55 to 340 mm RCS (Round Corner Squares).
It offers bars in Hot Rolled, Heat Treated, and Peeled & Polished conditions for all critical applications.
In the past one year, Welspun Specialty shares have lost 14 per cent against Sensex's rise of 1.4 per cent.
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