Welspun Corp surges in signing MoU with Tata Steel
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Welspun Corp is currently trading at Rs. 235.65, up by 3.45 points or 1.49% from its previous closing of Rs. 232.20 on the BSE.
The scrip opened at Rs. 231.15 and has touched a high and low of Rs. 236.70 and Rs. 230.30 respectively. So far 60740 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 250.50 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. 239.70 and Rs. 222.60 respectively. The current market cap of the company is Rs. 6153.19 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 (WCL) has signed memorandum of understanding (MoU) with Tata Steel to jointly work towards developing the framework for and subsequently manufacturing green pipes for the transportation of pure hydrogen and hydrogen blended with natural gas.
The green energy strategic partnership with Tata Steel is to assess the suitability of a variety of pipes manufactured by WCL for the transportation of the fuel of the future, which will aid in mitigating climate change-led issues and build a secure future for posterity. This MoU will enhance the general understanding and knowledge of the transportation of hydrogen globally.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
