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Construction Stock: There is good news for civil construction company Welspun Enterprises. In a statement to the stock market, the company said that it has been declared the lowest bidder for a water tunnel project in Mumbai. The project includes the design and construction of a Tertiary-treated Water Conveyance tunnel from the wastewater treatment facility in Dharavi to Ghatkopar. On Friday (September 27), the stock fell 1.72 percent to close at 556.65. In one year, the stock has given nearly 100 percent return to its investors.
The construction company has given this information to the exchange filing after the market closed on Friday. The company said, We are pleased to inform you that Welspun Enterprises has been declared L1 bidder by Brihanmumbai Municipal Corporation for the design and construction of Tertiary-treated Water Conveyance Tunnel from Dharavi WWTF to Ghatkopar WWTF. The contract includes design and construction of 8.48 km long tunnel with 3,500 mm bore diameter, which will be completed within a period of 93 months using tunnel boring machine. Our offer is Rs 1,989.90 crore excluding GST.
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