Rs 4,128 crore order: Small-cap multibagger receives contract from BMC for Water Treatment Plant; order book hits Rs 8,500 crore milestone!
Noteworthy is the stock's meteoric rise, witnessing a staggering surge of 137 per cent over the past year
In the midst of recent market volatility, where key benchmark indices remained relatively stagnant on Friday, it becomes imperative for market participants to exercise discernment and vigilance in navigating the dynamic market environment. In adopting a selective approach, one particular stock stands out, buoyed by recent substantial orders and robust investor backing.
Enter Welspun Enterprises Ltd, a pioneering force in bolstering India's infrastructure with vital road and water assets while concurrently generating value for a diverse array of stakeholders. Armed with a resilient balance sheet, commendable credit ratings, and an asset-light strategy, Welspun Enterprises (WEL) prioritizes high-value project management, ensuring impeccable quality, safety, and timely project completion, all within stipulated budgets.
In a significant development, Welspun Enterprises Limited has emerged as the L1 bidder awarded by the Brihanmumbai Municipal Corporation for a prestigious Design Build and Operate contract, encompassing the development of a new 2,000 MLD Water Treatment Plant at Bhandup Complex. This ambitious project, slated for completion within 48 months, will entail comprehensive operation and maintenance for an additional 15 years. The contract's total value, excluding GST, stands at an impressive Rs. 4,128 Crores.
With a sprawling presence across the length and breadth of India, spanning states such as UP, Bihar, Tamil Nadu, Haryana, Maharashtra, Uttarakhand, and beyond, Welspun Enterprises boasts a diversified portfolio encompassing road, water, and wastewater verticals. According to the company's recent presentation, as of December 31, 2023, the firm's order book tallies approximately Rs. 8,500 crore, inclusive of Rs. 18,000 million for O&M and asset replacement in the MCGM STP project, while excluding Rs. 17,100 million of WMEPL's order book.
Noteworthy is the stock's meteoric rise, witnessing a staggering surge of 137 per cent over the past year and an astounding 285 per cent spike over the last three years, firmly establishing itself as a quintessential Small-Cap multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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