Welspun Corp jumps on getting line pipe orders in India, USA
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Welspun Corp is currently trading at Rs. 536.05, up by 11.70 points or 2.23% from its previous closing of Rs. 524.35 on the BSE.
The scrip opened at Rs. 516.05 and has touched a high and low of Rs. 544.90 and Rs. 516.05 respectively. So far 79876 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 625.00 on 06-Feb-2024 and a 52 week low of Rs. 186.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 544.90 and Rs. 496.95 respectively. The current market cap of the company is Rs. 14044.97 crore.
The promoters holding in the company stood at 49.96%, while Institutions and Non-Institutions held 21.79% and 28.26% respectively.
Welspun Corp has received line pipe orders, both in India & USA, cumulatively valued at around Rs 2,039 crore since last its disclosure made on February 6, 2024. The new orders in the USA not only ascertain business continuity till Q2 FY25, but also reaffirms its dominant position in the USA onshore gas transmission sector.
Also from the orders in India, one being for supplies to USA offshore, reaffirms its technical excellence and customer trust on the company, for executing critical projects, especially in very challenging and demanding Gulf of Mexico. Execution of these orders will mostly be during FY25.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
