Welspun Corp hits new 52-week high on securing single largest order worth over Rs 5000 crore in US
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Welspun Corp is currently trading at Rs. 239.00, up by 30.25 points or 14.49% from its previous closing of Rs. 208.75 on the BSE.
The scrip opened at Rs. 209.60 and has touched a high and low of Rs. 240.15 and Rs. 209.60 respectively. So far 731788 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 240.15 on 20-May-2022 and a 52 week low of Rs. 106.00 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 240.15 and Rs. 178.00 respectively. The current market cap of the company is Rs. 6124.48 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 16.64% and 33.35% respectively.
Welspun Corp has secured single largest order for supply of pipes valued at over Rs 5000 crore in the United States. This order is for supply of 325,000 MT of large diameter coated pipes for transporting natural gas from the Permian Basin to Houston. The pipes for this order will be produced from company’s Little Rock plant in the US and the same will be executed over a period of 12 months, commencing H2 of FY 23.
This large new order from the US comes on the back of another win company had announced in April 2022, of a 26,000 MT order from a long-standing customer in North America, as well as another large order from Australia. With this, order book as on date (excluding Saudi) stands at 704,000 MT valued at around Rs 10,500 crore.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
