Welspun Corp gains on bagging additional two large orders in USA
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Welspun Corp is currently trading at Rs. 807.90, up by 18.45 points or 2.34% from its previous closing of Rs. 789.45 on the BSE.
The scrip opened at Rs. 814.95 and has touched a high and low of Rs. 824.50 and Rs. 805.65 respectively. So far 64191 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 824.50 on 09-Nov-2024 and a 52 week low of Rs. 441.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 824.50 and Rs. 760.00 respectively. The current market cap of the company is Rs. 21233.25 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 23.06% and 26.94% respectively.
Welspun Corp has bagged additional two large orders in the USA, one each for HSAW and HFIW pipes, for supply of coated pipes for Natural Gas Pipeline Projects.
With addition of these two new orders, value of the cumulative orders received by its USA Plant till date in this Q3FY25 exceeds Rs 7,000 crore. Execution of these orders will be during FY25 & FY26.
These wins once again reinforce its leading and dominant market share in the USA O&G transmission space. Further, the company's outlook for the USA market remains extremely positive for next couple of years and Welspun is fully poised to benefit from more opportunities in the time to come.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
