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Welspun Enterprises rises 2% on inking pact with NHAI

The shares of Welspun Enterprises opened at Rs 113.05 on BSE against its previous closing of Rs 111.10.

ETMarkets.com|
Dec 04, 2018, 10.14 AM IST
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Welspun Enterprises rises 2% on inking pact with NHAI
The scrip was trading 2.25 per cent up at Rs 113.60 at around 09.56 am.
NEW DELHI: Shares of Welspun Enterprises rose over 2 per cent in early trade on Tuesday after the company said it had inked a pact with the National Highways Authority of India (NHAI) for a Rs 2,005-crore highway project in Tamil Nadu.

"NHAI and Welspun Sattanathapuram Nagapattinam Road Private Limited (WSNRPL), a subsidiary of Welspun Enterprises Ltd, have executed the Concession Agreement on December 3, 2018, for four-laning of Sattanathapuram to Nagapattinam section of NH-45A (New NH -332) in Tamil Nadu," the company said in a regulatory filing to the BSE.

"WSNRPL will develop the project at a bid project cost of Rs 2,004.51 crore and first year O&M (operation and maintenance) cost of Rs 5 crore," the company further said.

The scrip was trading 2.25 per cent up at Rs 113.60 at around 09.56 am, while the benchmark BSE Sensex was down 0.30 per cent at 36,133.83.

The shares of Welspun Enterprises opened at Rs 113.05 on BSE against its previous closing of Rs 111.10.

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