WPIL Ltd shares traded 3.67% higher at Rs 401 in early session on Tuesday, November 18, gaining Rs 14.20 from the previous close as the company announced a major overseas contract win through its South African subsidiary.
The company disclosed that its South African arm has received a contract from METSI KE MATLA JV for complete electro-mechanical and instrumentation works for the MCWAP2 Project of Trans Caledon Tunnel Authority (TCTA), South Africa. The total value of the contract stands at 821 million Rand, approximately Rs 426 crore, and is scheduled to be commissioned within 48 months. WPIL clarified that the contract does not fall under related-party transactions.
The announcement boosted positive sentiment around the stock, contributing to the early-morning uptick.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
