Welspun Corp jumps as its associate company bags contracts worth around Rs 130 crore
Welspun Corp is currently trading at Rs. 798.05, up by 10.20 points or 1.29% from its previous closing of Rs. 787.85 on the BSE.
The scrip opened at Rs. 803.65 and has touched a high and low of Rs. 805.50 and Rs. 790.45 respectively. So far 13012 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-Dec-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. 805.50 and Rs. 759.95 respectively. The current market cap of the company is Rs. 20964.34 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’s associate company -- East Pipes Integrated Company for Industry (EPIC) has bagged contracts from Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company with value around Rs 130 crore for manufacturing, supply of steel pipes and coating. The duration of the contracts is seven months. The financial impact of the contracts will be reflected in Q1 and Q2 of financial year 2025-2026.
EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities with impeccable track record of execution of mega orders in time & Quality with customer centric approach, positions them as a most preferred supplier in the KSA market and continue to pioneer in supporting KSA’s strategic objectives under the Vision 2030.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
