Welspun Corp shines on bagging line pipe orders worth Rs 872 crore
Welspun Corp is currently trading at Rs. 554.40, up by 26.20 points or 4.96% from its previous closing of Rs. 528.20 on the BSE.
The scrip opened at Rs. 535.35 and has touched a high and low of Rs. 555.00 and Rs. 534.35 respectively. So far 30792 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. 210.60 on 03-May-2023.
Last one week high and low of the scrip stood at Rs. 568.60 and Rs. 517.65 respectively. The current market cap of the company is Rs. 14496.35 crore.
The promoters holding in the company stood at 50.14%, while Institutions and Non-Institutions held 22.69% and 27.17% respectively.
Welspun Corp has received multiple line pipe orders, both in India & USA, cumulatively valued at around Rs 872 crore since its last disclosure made on March 22, 2024. The execution of these orders will be during FY25.
Among these orders, one is for supply of Concrete Coated LSAW Pipes and Bends for a critical oil transportation project in the Middle East. The line pipes shall be used for extreme sour service application. Welspun Corp has been executing these types of extremely challenging projects, which reinforces its position as one of the top line pipe manufacturers of the world.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
