WPIL shares stuck in 5% upper circuit through the session today; here's why

Shares of industrial products firm WPIL ended 5% higher today after the company said it received an order from PHED, West Bengal for execution of a turnkey project for package I of surface based water supply scheme, Northern Sector under Purulia District. The order valu is worth Rs 425.35 crore. It is to be completed within a period of 27 months and 3 years. The said Order does not fall within any related party transaction.

WPIL shares hit upper circuit of 5% at Rs 3584.85 on Friday against the previous close of Rs 3413.80 on BSE. It was stuck in the upper circuit through the session. Total 2416 shares of WPIL changed hands amounting to a turnover of Rs 86.60 lakh. Market cap of WPIL rose to Rs 3500.96 crore on BSE.

ALSO READ : Zomato shares tripled from 52-week low in 2023; what’s next?

The stock gained 219% in a yaer and 202% in 2023.

WPIL shares have a one-year beta of 0.2, indicating very low volatility during the period.        

In terms of technicals, the relative strength index (RSI) of WPIL stands at 72.7, signaling it's trading in the overbought zone. WPIL shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.     

WPIL Limited is engaged in designing, developing, manufacturing, erecting, commissioning and servicing pumps and pumping systems. The company has construction contracts related to water supply and irrigation. The company caters to both domestic and international markets. The Company operates through two segments: Assembled to order pumps (ATO) and Engineered to order (ETO).