Walchandnagar Industries zooms on securing order worth Rs 77.20 crore from ISRO

Walchandnagar Industries is currently trading at Rs. 66.90, up by 6.75 points or 11.22% from its previous closing of Rs. 60.15 on the BSE.

The scrip opened at Rs. 63.75 and has touched a high and low of Rs. 67.60 and Rs. 63.45 respectively. So far 33316 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 136.00 on 17-Sep-2018 and a 52 week low of Rs. 48.00 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 67.60 and Rs. 54.60 respectively. The current market cap of the company is Rs. 228.99 crore.

The promoters holding in the company stood at 55.00%, while Institutions and Non-Institutions held 3.51% and 41.49% respectively.

Walchandnagar Industries has 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 nos) for the GSLV M KIII launch vehicle.

It is the company’s second largest single order from ISRO and the largest as far as the GSLV-M KIII launch vehicle is concerned.

Walchandnagar Industries is a high-tech heavy engineering company, manufacturing critical equipment for India’s diverse requirements in the field of defence, nuclear power and space programmes.

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