FIIs & DIIs Increase Stake: Pipes Manufacturer Breaks Breaks Ground on USD 100 Million Expansion in USA
The company recently broke ground on a USD 100 million expansion of its HFIW pipe manufacturing facility in Little Rock, Arkansas, USA.
Welspun Corp subsidiary, Welspun Tubular LLC, recently broke ground on a $100 million expansion of its HFIW pipe manufacturing facility in Little Rock, Arkansas, USA. This upgrade, expected to be completed by March 2026, will enhance the facility’s product portfolio to include pipe sizes of up to 24-inch outer diameter and 0.75-inch wall thickness with grades up to X80. The expansion will also increase production capacity to 350 KMTPA and create 175 additional jobs in the region.
Welspun’s Chairman, Mr. B.K. Goenka emphasized the company's commitment to customer-centric growth and the local Arkansas community. Meanwhile, Arkansas Governor Sarah Huckabee Sanders hailed the development as a milestone for economic progress in the state.
Today, Welspun Corp shares dropped 2.34 per cent to Rs 778.75 per share with a current market capitalization of Rs 20,430 crore. Over the past year, the stock has delivered an impressive return of approximately 45 per cent. The stock has delivered multibagger returns of over 450 per cent in the past 5 years.
Q2 FY25 Performance
In its Q2 FY25 results, Welspun Corp reported a revenue of Rs 3,302 crore, reflecting a decline of 18.66 per cent year-on-year from Rs 4,059 crore in Q2 FY24. The operating profit for the quarter stood at Rs 400 crore, maintaining a 12 per cent operating profit margin. Net profit for the quarter was Rs 283 crore compared to Rs 387 crore in the corresponding period last year.
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FIIs & DIIs Increase Stake
During the September to June quarter, FIIs increased the stake to 11.65 per cent from 10.51 per cent during the March to June quarter. Meanwhile, DIIs during the same period increased the stake from 9.74 per cent to 11.41 per cent.
Investors should keep an eye on this Small-Cap stock as it continues to make waves in the global market.
Disclaimer: This article is for informational purposes only and not investment advice.