Walchandnagar Shares Jump 16% After Cabinet Clears Atomic Energy Bill

Walchandnagar Industries Ltd. shares jumped 16% on Friday after the Union Cabinet approved the Atomic Energy Bill, 2025, that will make it easier for private companies to operate in the nuclear energy sector.

Prime Minister Narendra Modi last month announced that India will soon open its nuclear power sector to private players. The government plans to scale emissions-free nuclear power capacity to 100 gigawatt by 2047 from the current installed capacity of around 8.8 GW.

The proposed bill will supersede the Atomic Energy Act of 1962, which currently prevents private and state participation in nuclear power generation. Proposed adjustments to the nuclear liability framework also indicate the government’s intent to remove long-standing barriers to private-sector entry.

Walchandnagar Industries has been associated with the Department of Atomic Energy particularly with Nuclear Power corporation of India Ltd., and Bhabha Atomic Research Centre (BARC) for over four decades and with Bharatiya Nabhikiya Vidyut Nigam (BHAVINI) for a decade in the manufacture and supply of core equipment for various nuclear power plants.

Pune-based WIL is accredited with pre-qualifications from the NPCIL, BARC and BHAVINI for supplying Class I nuclear components, according to its website. It has the capabilities to manufacture components from exotic materials complying with various international codes and inspection requirements. WIL also undertakes major installation and integration activities for nuclear power plants at site.

The company has been identified as a prospective supplier of nuclear equipment by foreign firms. Russia's Atomstroyexport and Atomenergomash, AREVA of France, Westinghouse and GE of the United States have already evaluated and approved capabilities of WIL for localisation of their equipment.

Walchandnagar share price was trading 16% higher at Rs 178 per share, compared to a 0.6% advance in the benchmark Nifty 50 index. The stock is down 39% on a year-to-date.