Welspun Corp surges on bagging Rs 706 crore order from Indian Oil Corporation
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Welspun Corp is currently trading at Rs. 202.85, up by 4.05 points or 2.04% from its previous closing of Rs. 198.80 on the BSE.
The scrip opened at Rs. 203.95 and has touched a high and low of Rs. 205.20 and Rs. 201.10 respectively. So far 3372 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 222.00 on 22-Apr-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. 213.00 and Rs. 182.00 respectively. The current market cap of the company is Rs. 5341.63 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 bagged prestigious order from Indian Oil Corporation (IOCL) of around 48,000 MT with an order value of Rs 706 crore. This order is for a large section of the Mundra Panipat Crude Oil Pipeline (P25) Project which will be constructed to augment the crude oil intake for IOCUs Panipat refinery expansion project.
The order will be executed in this financial year and reaffirms strong customer connect and IOCL’s confidence in company’s technical excellence and execution capabilities. Apart from this, the company has secured various other orders in this period, across the Oil & Gas, CGD and Water sectors in India and also in the Oil & Gas sector in the US, amounting to Rs 2450 crore, with most of them to be executed within this financial year.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
