Mukul Agarwal-Backed Small Cap Stock Hits Upper Circuit After ₹425 Cr Order

Shares of WPIL surged up to hit the upper circuit on Friday morning on the back of the massive order.

What Happened: The company in the after-market hours on Thursday, announced bagging an order from PHED, Government of West Bengal. The order is for the execution of a Turnkey Project for Package I of the Surface-based Water Supply Scheme, Northern Sector under Purulia District for an aggregate value of ₹425.35 crores. The order is to be completed within 27 months and three years of operation and maintenance.

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Earlier this week, WPIL’s European subsidiary, Gruppo Aturia, completed the sale of its subsidiary Rutschi, which comprises Pompes Rutschi France and Rutschi Fluid AG Switzerland, for 68.9 million Euros. The company had finalised a Share Purchase Agreement with NewCleo on June 8, 2023.

With a market cap of around ₹3,500 crore, the small-cap company is involved in the designing, developing, manufacturing, erecting, commissioning and servicing of pumps & pumping systems. It now has manufacturing operations in the United Kingdom, Italy, France, Switzerland, South Africa, Zambia, Australia and Thailand through its Group companies.

Price Action: WPIL’s share price was locked in 5% upper circuit at ₹3,584.45 on Friday morning. Mukul Agarwal owns a 1.16% stake in the company.

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Posted In: Mukul AgarwalWPIL