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Shares of Welspun Enterprises soar on winning mega water project contract in Mumbai

06 March 20243 mins read by Angel One
This project strengthens WEL's position in the water infrastructure sector and paves the way for future opportunities in this crucial domain.
Shares of Welspun Enterprises soar on winning mega water project contract in Mumbai
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About Project

Welspun Enterprises Limited (WEL), a leading infrastructure and energy company, has secured a massive contract worth Rs 4,123.88 Crores to design, build, and operate a 2,000 MLD (million litres per day) water treatment plant (WTP) in Mumbai. This project marks a significant milestone for WEL and positions them as a key player in the water infrastructure sector.

The upcoming WTP will be one of the largest in the world, catering to the growing water needs of Mumbai. The contract involves design, construction, and operation & maintenance (O&M) for 15 years, showcasing WEL’s commitment to the project’s success. WEL plans to leverage advanced treatment processes and technologies, aligned with its focus on resource efficiency and sustainable infrastructure development. WEL has partnered with Veolia, a global leader in water technology, to ensure the plant’s technological prowess.

WEL is expanding its water infrastructure portfolio with the addition of the Rural Water Supply Project in Uttar Pradesh under the Government of India’s Jal Jeevan Mission, providing clean water to over 2,500 villages, and the Dharavi Waste Water Treatment Facility in Mumbai, a prestigious 418 MLD wastewater treatment project.

This win strengthens WEL’s position in the water infrastructure sector and paves the way for future opportunities in this crucial domain. Their dedication to excellence and focus on sustainable solutions promise a remarkable outcome for this landmark project, ensuring access to clean water for millions in Mumbai.

Share Price Movements

The shares of Welspun Enterprises Ltd surged 5.30% or 16.65 points to Rs 331.05 as compared to the previous day’s closing of Rs 314.40. Today the share opened at Rs 337.60 and touched intraday high and low of Rs 342.05 and Rs 329 respectively. The share has a 52-week high and 52-week low of Rs 382.70 and Rs 121.10.

About the company

Welspun Enterprises Ltd. (WEL), part of Welspun World, is an infrastructure development company focusing on Road, Water and Wastewater segments. The Company also has investments in Oil & Gas Exploration. Backed by experienced management and strong parentage, WEL has a proven track record with the execution of water supply projects and over 1,000 km of road projects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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