Welspun Corp surges on bagging multiple orders of Rs 1,400 crore
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Welspun Corp is currently trading at Rs. 123.90, up by 2.50 points or 2.06% from its previous closing of Rs. 121.40 on the BSE.
The scrip opened at Rs. 121.95 and has touched a high and low of Rs. 125.45 and Rs. 121.95 respectively. So far 45459 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 165.00 on 09-Jun-2021 and a 52 week low of Rs. 97.60 on 24-Sep-2020.
Last one week high and low of the scrip stood at Rs. 126.85 and Rs. 119.20 respectively. The current market cap of the company is Rs. 3238.38 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 19.73% and 30.26% respectively.
Welspun Corp has received multiple orders of approximately 120 KMT valuing close to Rs 1,400 crore most of which will be executed from its facilities in India. This includes a significant and a very prestigious export order for a deep offshore pipeline project (of approximately 59 KMT) in Gulf-of-Mexico, USA.
This exhibits overall improvement in business sentiments, its strong customer connect, their confidence in its technical excellence and its execution capabilities. With these orders, the company's order book stands at 492 KMT valued at approximately Rs 4,700 crore, after considering execution up to August 2021.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
