Shares of Welspun Specialty Solutions Ltd hit the 5% upper circuit on Wednesday, 5 March, after the company announced emerging as the lowest bidder (L1) for a project worth Rs 231.77 crore by Bharat Heavy Electricals Limited (BHEL, Trichy).
The scope of the order entails supplying 4,050 tonnes of stainless steel seamless boiler tubes for a series of Supercritical Thermal Power Projects.
Welspun Specialty stated in an exchange filing, “We are happy to announce 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 company also stated that a formal contract will be issued after BHEL’s internal clearance process.
Welspun Specialty Solutions Limited (WSSL), an Indian company, is a leading manufacturer of steel and steel-related goods.
WSSL, a subsidiary of Welspun Corp Ltd, a business within the Welspun World conglomerate, specializes in a range of products, including billets, blooms, ingots, rolled bars, bright bars, seamless pipes and tubes, and more.
These products serve the automotive, energy, defence, nuclear power, aerospace, and other industries. The company produces premium alloy steel, which includes bearing steel and micro-alloyed steel, as well as stainless and Ni-alloy steel, including ferritic and austenitic stainless steels.
WSSL can manufacture more than 150,000 metric tons of steel a year thanks to its state-of-the-art facilities, which include a seamless pipes plant, a rolling facility, and a fully integrated steel melting shop. The business is also the only integrated producer of stainless steel pipes and tubes in India.
At 12:55 pm, the shares of Welspun Specialty were trading 4.37% higher at Rs 31.30 on BSE.
Stay Ahead with Welspun Specialty Solutions Ltd. Ask the Analyst.
Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!
