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Walchandnagar Industries share price hits upper circuit on securing Rs 77.20-crore order from ISRO

BusinessToday.In     September 12, 2019

Walchandnagar Industries share price hit its upper circuit of 20% in trade today after the firm said it has secured an order worth Rs 77.20 crore from Indian Space Research Organisation (NASA). Walchandnagar Industries share price rose up to 20% to Rs 72.15 compared to the previous close of Rs 60.15 on BSE.

At 11:59 am, the stock was trading 20% or 12 points higher at Rs 72.15 on BSE. There were only buyers, no sellers in the stock.

Investors in Walchandnagar Industries became richer by Rs 45.69 crore today after market capitalisation of the firm rose from Rs 228.99 crore in previous session to Rs 274.68 crore on BSE today.

Also read: This stock turned Rs 1 lakh to Rs 1.49 crore in ten years, do you own it ?

The microcap stock has been gaining for the last 5 days and risen 34.48% during the period. However, the stock has lost 26.86% since the beginning of this year and fallen 45.46% during last one year.

The Mumbai-based heavy engineering products company said, "Walchandnagar Industries Ltd (WIL) secured an order worth Rs 77.20 Crore plus escalation from the Vikram Sarabhai Space Centre of ISRO located at Thiruvananthapuram. The order is towards manufacturing and supply of head, middle and nozzle end segments (total 30) for the GSLV M Klll launch vehicle. It is WlL's second-largest single order from ISRO and the largest as far as the GSLV-M Klll launch vehicle is concerned."

Meanwhile, Sensex was trading 42 points higher at 37,313 and Nifty rose 10 points to 11,045 in afternoon trade.

Also read: This footwear stock turned Rs 1 lakh to Rs 1.13 crore in 10 years, do you own it?

Edited by Aseem Thapliyal


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