Welspun Corp soars on securing order for Carbon Capture Pipeline project in United States
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Welspun Corp is currently trading at Rs. 256.55, up by 9.05 points or 3.66% from its previous closing of Rs. 247.50 on the BSE.
The scrip opened at Rs. 252.30 and has touched a high and low of Rs. 258.70 and Rs. 251.00 respectively. So far 533731 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 267.50 on 15-Sep-2022 and a 52 week low of Rs. 119.20 on 17-Sep-2021.
Last one week high and low of the scrip stood at Rs. 267.50 and Rs. 240.10 respectively. The current market cap of the company is Rs. 6472.48 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 19.52% and 30.47% respectively.
Welspun Corp has secured a significant order for a Carbon Capture Pipeline project in the United States. This order is for supply of 785 miles (1,256 KM) or 100,000 MT (approximately) of High Frequency Induction Welding (HFIW) pipes, and would be used for transporting captured carbon dioxide.
The pipes for this order will be produced from the company's Little Rock plant in the U.S. and the same will be executed in FY 23?24. This large strategic order once again reflects the company’s strong culture of engineering excellence and the trust customers have on its capabilities to execute large?scale projects, both in terms of supplying impeccable quality, and for on?time deliveries.
With this project, the company will not only significantly contribute in reducing the CO2 emissions in the environment, but also it is a big leap forward for it in strategically meeting its environmental, social, and governance (ESG) goals, as set out towards a cleaner and greener planet.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
