Welspun Enterprises bags NHAI order for road project

Welspun Enterprises Limited has secured an order for road project from National Highway Authority of India (NHAI) for four-laning from Sattanathapuram to Nagapattinam in the State of Tamil Nadu under the NHDP Phase-IV on Hybrid Annuity Mode.

The company will develop the project within a period of 2 years from the appointed date at a Bid Project Cost of Rs. 2,004.51 crore and a first year operation and maintenance cost of Rs. 5 crore.

Post the development, on Friday, the share recorded its intraday high at Rs. 162.50 per share and an intraday low at Rs. 158 per share on the BSE. Its 52-week high stands at Rs. 203 per share and 52-week low at 106.55 per share on the BSE.

At 11:41, the stock was trading at 160.20 per share, up by 2 per cent while the BSE Sensex was trading at 35,691.37 level, up by 126 points or 0.35 per cent and the Nifty50 traded at 10,785.25 level, up by 35.10 points or 0.33 per cent.