India's Welspun jumps on emerging as lowest bidder for $224 mln project

Welspun Enterprises

22/05/2024 09:13

** Shares of engineering firm Welspun Enterprises  WELS.NS 
rise as much as 9.5% to 406 rupees
    ** Co says it emerged as lowest bidder for a construction
project worth 18.65 bln rupees ($224 mln)
    ** Nearly 1.7 mln shares traded by 1:30 p.m. IST, nearly 4x
their 30-day avg
    ** Stock closed down about 7% on Tuesday after reporting a
drop in qtrly profit
    ** Stock last up around 6.5%, taking YTD gains to 21%


($1 = 83.2600 Indian rupees)

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))