Welspun Corp rises on securing contract for export of LSAW Pipes, Bends
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Welspun Corp is currently trading at Rs. 195.00, up by 2.30 points or 1.19% from its previous closing of Rs. 192.70 on the BSE.
The scrip opened at Rs. 192.20 and has touched a high and low of Rs. 195.30 and Rs. 187.35 respectively. So far 29129 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 298.35 on 22-Sep-2022 and a 52 week low of Rs. 135.55 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 195.30 and Rs. 177.85 respectively. The current market cap of the company is Rs. 5051.44 crore.
The promoters holding in the company stood at 49.90%, while Institutions and Non-Institutions held 19.01% and 31.09% respectively.
Welspun Corp (WCL) has been awarded a prestigious contract for export of LSAW Pipes and Bends to the Middle East which will be executed from its facilities in Anjar, India in FY 23-24. The contract is for around 83,000 MT bare pipes with an option of coating exercisable by the project owner subsequently. Pipes supplied will be used for offshore production and transport of gas, which will accelerate and enhance LNG export infrastructure in one of the largest LNG producing and exporting country in the World.
This latest award is a testament to its engineering excellence, impeccable track record and dedication to delivering innovative solutions that meet the unique needs of its clients. The energy scenario across the globe is changing due to various geopolitical reasons and it is well placed to secure further projects in the Oil & Gas sector, both in international as well as domestic market.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
