Bluspring Enterprises won Rs 2,049.8 crores order from Bharat Aluminium Company for 1740 MW Power Plant Operations and Maintenance Contract.
The share price of the company surged nearly 11% in the intraday trading session following the order win announcement.
Bluspring Enterprises said in its regulatory filing on Friday, “STEAG Energy Services (India), a wholly-owned stepdown subsidiary of the Company has been awarded an order from Bharat Aluminium Company regarding ‘1740 MW Power Plant Operations and Maintenance Contract’.”
The contract will remain in force for 60 months and will come into effect from July 1. Under the contract, the company will undertake comprehensive operations and maintenance of BALCO’s 1,740 MW power plant.
About Bluspring Enterprises
Bluspring Enterprises is India’s integrated infrastructure services enterprise. It delivers integrated facility management, food and hospitality, security (powered by Terrier), engineering asset management (powered by Hofincons), telecom networks (powered by Vedang), and talent and recruitment services (powered by foundit) through its category-leading brands. Bluspring Enterprises has a workforce of over 93,000 and they operates across 28 states. Bluspring claims to support more than 1,000 customers across healthcare, education, BFSI, commercial, IT, telecom, manufacturing and industrial, government, and PSU sectors.
About BALCO
Bharat Aluminium Company (BALCO), part of Vedanta Group’s Aluminium Business, s one of India’s leading aluminium producers.
Established in 1965 as India’s first public sector undertaking in the aluminium sector, BALCO operates an integrated aluminium manufacturing business with major operations in Korba, Chhattisgarh. The company produces a range of value-added aluminium products, including wire rods, ingots, rolled products and alloys that cater to industries such as power, construction, transportation and manufacturing. BALCO also operates a 1,740 MW captive power generation facility and is expanding its aluminium production capacity as part of its long-term growth plans. BALCO’s journey took a significant turn in 2001, when the Government of India disinvested 51% of its shares to Sterlite Industries (India), now Vedanta Limited.
Bluspring Enterprises share price
The share price of Baluspring Enterprises has surged 91.65% in last three months, and 39.6% in past six months. On year-to-date (YTD) basis, the stock has surged 43.3% so far this year.