Welspun Enterprises acquired the stake from the existing shareholders for Rs 137.07 crore. MEPL will now become a subsidiary of Welspun Enterprises and enables the company’s expansion into the promising water and tunnelling solutions segment in India.

Welspun trades higher on buying out 50.10% stake in Michigan Engineers

CERC floats consultation paper on market coupling in power sector; Kempas Trade & Investment increases stake in Adani Enterprises; NFRA fines 3 entities for lapses in auditing of TDL; Welspun Enterprises acquires 50% stake in MEPL; Lemon Tree Hotels signs license agreements for two properties; Union…

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With the completion of the transaction, MEPL has become its subsidiary, Welspun Enterprises said in a statement.

Welspun Enterprises Buys 50% Stake In Michigan Engineers For Rs 137 Crore

Welspun Enterprises (WEL) has bought a 50.10% stake in engineering, procurement and construction firm Michigan Engineers. The transaction, valued at Rs 137.07 crore will enable WEL to expand its urban water infrastructure business, as well as enter the high-margin, high-growth trenchless technologie…

Welspun Enterprises acquires 50.10% stake in Michigan Engineers for Rs 137 crore

Welspun Enterprises’ June quarter net profit almost doubled to Rs 92.8 crore, while consolidated income was up 5 percent to Rs 750 crore

Welspun Enterprises hits 52-week high as consolidated net profit doubles in Q1

The acquisition is in line with the strategy of Welspun Enterprises to grow the water infrastructure business segment. This will enable its entry into the tunnelling business, which complements its existing water and road business.

Welspun Enterprises gains as board approves stake purchase in Michigan Engineers

Several stocks hit their respective 5-year highs on June 19, 2023, showcasing strong performance and attracting investor attention. Titagarh Railsystems closed at 466.7, Welspun Enterprises at 194.2, Mishra Dhatu Nigam at 284.15, Inox Wind at 161.7, CIE Automotive India at 525.75, Cholamandalam Fina…

Titagarh Rail Systems and 6 other smallcap stocks surpass 5-year highs

WEL focuses on road and water projects under the hybrid annuity model and via large-value engineering, procurement and construction contracts. The company which exited fiscal 2023 with an order book of over Rs 10,100 crore — split roughly 60:40 between water and roads — has identified a pool of proj…

Welspun Enterprises bets big on water business, eyes 3-fold growth

“As part of his role of spearheading Welspun New Energy, Mr. Maheshwari will lend his well-rounded domain expertise to incubate Welspun Enterprises newest business, giving it a strategic direction going forward,” the company said in a press statement.

Welspun New Energy appoints Kapil Maheshwari as the ED & CEO

JMC Projects and Kalpataru Power Transmission had mutually fixed Wednesday, as the record date for the purpose of determining the shareholders of the company to whom the equity shares of Kalpataru Power Transmission would be allotted

JMC Projects to turn ex-amalgamation; Welspun Enterprises to go ex-dividend, Pacific Ind ex-rights

The company said that its chief financial officer, Sanjay Sultania, resigned on Monday, 9 January 2023.

Welspun Enterprises CFO Sanjay Sultania resigns

Price return has been average, nothing exciting

Performance

Can be considered moderately valued vs the market

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Welspun Enterprises Limited is a holding company that operates through infrastructure development segment.It has investment in renewable energy, and oil and gas exploration sectors.