Small-cap stock below ₹50 hits 5% upper circuit on bagging project worth ₹ ₹232 crore from BHEL

Small-cap stock below ₹50: Welspun Specialty Solutions share price hit the 5% upper circuit on Wednesday, March 5, following an order win from Bharat Heavy Electricals Limited (BHEL).

The company, engaged in the production of steel products, including stainless steel, alloy steel, and pipes and tubes, informed exchanges on Tuesday post market hours said in a filing, “Welspun Specialty Solutions Limited (WSSL) has been notified as L1 bidder by Bharat Heavy Electricals Limited (BHEL, Trichy) for supply of approx 4,050 tons of Stainless steel Seamless Boiler Tubes for series of Super critical Thermal Power Projects. Formal contract will be released after internal approval process at BHEL.”

The total supply contract value will be ₹231.77 crore, excluding GST, the company said further in the filing.

Welspun Specialty Share Price History

Welspun Specialty Solutions share price gained as much as 5% to hit the upper price band of ₹31.48 apiece on the BSE. With today's rise, shares of Welspun Specialty shares snapped their five-day losing run, wherein they lost nearly 22% of their value.

Despite today's gains, shares of Welspun Specialty Solutions have lost 25% so far in 2025 amid a broad-based selloff in the Indian stock market.

In the last one year, too, the stock performance has been dismal, with the stock shedding 10% during this period. Meanwhile, the scrip is down 33% in the past six months.

Fundraising Via Rights Issue

Welspun Specialty Solutions recently approved raising ₹350 crore via rights issue, with the record date fixed as March 1, 2025. The company said it would issue 13,25,22,289 rights equity shares, each at ₹26.40 per share.

The rights issue will open on Monday, March 10 and close on Wednesday, March 19.

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