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Equity | News | Hot Pursuit
Hot Pursuit
Walchandnagar Inds surges after order win
(09:44, 12 Sep 2019)

The order is towards manufacturing and supply of head, middle and nozzle bid segments (total 30 nos) for the GSLV M KIII launch vehicle. It is the company's second largest single order from ISRO and the largest as far as the GCV-M KIII launch vehicle is concerned. The announcement was made after market hours yesterday, 11 September 2019.

Shares of Walchandnagar Industries rose 24.13% in five trading sessions to its current market price of Rs 66.60, from a recent closing low of Rs 53.65 on 4 September 2019.

On BSE, 38,000 shares were traded in Walchandnagar Industries counter, compared to a 2-week average of 24,000 shares. The stock hit an intraday high of Rs 67.60 and an intraday low of Rs 63.45.

It hit a 52-week high of Rs 136 on 14 September 2018 and a 52-week low of Rs 48 on 23 August 2019.

Walchandnagar Industries reported net loss of Rs 20.49 crore in Q1 June 2019 compared with net profit of Rs 7 lakh in Q1 June 2018. Net sales declined 5.1% to Rs 62.79 crore in Q1 June 2019 over Q1 June 2018.

Walchandnagar Industries is a heavy engineering and project execution company. The firm's segments include heavy engineering, foundry, machine shop and others.

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