Welspun Specialty Solutions zoomed 12.53% to Rs 42.57 after the firm has been selected as L1 bidder by Bharat Heavy Electricals (BHEL) for supply of stainless steel boiler tubes to National Thermal Power Corporation (NTPC)'s thermal power project.
The project includes supplying seamless stainless steel boiler tubes for National Thermal Power Corporation (NTPC)'s Talcher 2 x 660 MW Supercritical Thermal Power Project.The total supply contract value is estimated to be Rs 117 crore.
The company has participated in the said tender after stringent assessment and subsequent approval by both BHEL & NTPC.
Welspun Specialty Solutions is primarily engaged in the business of manufacture and distribution of steel and steel products and revenue from such products is derived from transfer at a point in time which is shown under sale of products.
The company reported standalone net profit of Rs 40.03 crore in Q4 FY24, steeply higer than Rs 8.06 crore recorded in Q4 FY23. Revenue from operations increased 9.8% YoY to Rs 151.27 crore in Q4 FY24
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