Welspun Specialty share price: On Wednesday, March 5, Welspun Specialty shares were in demand, with the scrip trading in the 5% upper circuit at Rs 31.48 a share.
Welspun Specialty's share price rose after the company was named as the lead bidder by Bharat Heavy Electricals Limited (BHEL, Trichy) for a project valued about Rs 231.77 crore, excluding GST.
The order is for about 4,050 tonnes of stainless steel seamless boiler tubes for a number of supercritical thermal power projects.
In an exchange filing, Welpsuin Specialty stated, "We are pleased to inform that Bharat Heavy Electricals Limited (BHEL, Trichy) has notified Welspun Specialty Solutions Limited (WSSL) as the L1 bidder for the supply of approximately 4,050 tons of Stainless Steel Seamless Boiler Tubes for a series of Super Critical Thermal Power Projects."
The business added that a formal contract would be disclosed following an internal approval process at BHEL.
About Welspun Specialty
Located in India, Welspun Specialty Solutions Limited (WSSL) is a major manufacturer of steel and steel products.
A division of Welspun Corp Ltd and a member of the Welspun World conglomerate, WSSL produces seamless pipes and tubes, billets, blooms, ingots, rolled bars, and bright bars.
These products are used in a number of industries, including as nuclear power, automotive, energy, and defense. The company produces stainless and Ni-alloy steel, including ferritic and austenitic stainless steels, as well as premium alloy steel, comprising bearing steel and micro alloyed steel.
With a cutting-edge facility that includes a fully integrated steel melting shop, rolling facility, and seamless pipe plant, WSSL has an annual steel production capacity of roughly 150,000 metric tons. In addition, the company is India's sole integrated producer of stainless steel pipes and tubes.
Welspun Specialty has a market capitalisation of Rs 2,083.91 crore, according to the BSE. The company belongs to the BSE SmallCap category.
At 9:32 a.m., Welspun Specialty's share price was 4.87 percent higher at Rs 31.45. In comparison, the BSE Sensex was trading 0.49 percent higher at 73,350.90 levels.
