Welspun Enterprises share price added 4 percent in early trade on March 10 after the company's joint venture with Kaveri Infraprojects bagged a water supply project worth Rs 2,500 crore.
The JV is empanelled by the UP State Water and Sanitation Mission, Namami Gange and Rural Water Supply Department (SWSM) for the execution of EPC Projects of the survey, design, preparation of DPR, construction, commissioning and operation and maintenance for 10 years of rural water supply.
The estimated aggregate contract value of the projects is Rs 2,500 crore (excluding O&M value and GST).
The final value will be determined on the completion of the preparation of the Detailed Project Report (DPR) by the company and its approval by the SWSM.
Preparation of DPR and construction of the project is to be progressively completed in 21 to 28 months and thereafter operated and maintained by the company for a period of 10 years.
Welspun Enterprises is the lead partner in the joint venture with a share of 74 percent in the joint venture.
At 09:34 hrs, Welspun Enterprises was quoting at Rs 125.45, up Rs 0.50, or 0.40 percent on the BSE.
The share touched a 52-week high of Rs 134.90 and a 52-week low of Rs 33.35 on 8 March 2021 and 25 March 2020, respectively.
Currently, it is trading 7.01 percent below its 52-week high and 276.16 percent above its 52-week low.