Welspun Corp gains on order

Welspun Corp announced of being awarded contracts for supply of 179 KMT of pipes for multiple projects on a global basis. Reacting to this news, the stock was up by 2.07 per cent.

Out of the order awarded for 179 KMT of pipes for multiple projects on a global basis, 161 KMT will be serviced from the company’s USA facility. After considering execution up to November 2019, Welspun Corp’s order book stands at 1,459 KMT to be valued at approximately Rs. 12,100 crores.

Welspun Corp Limited is a company that manufacture welded line pipe and is engaged in offering solutions in line pipes, with a capacity to produce longitudinal submerge-arc welded (LSAW), spiral helical submerged arc welded (HSAW), and high frequency electric resistance welded (HFERW)/high frequency induction (HFI) electrical resistance welded (ERW) pipes. It also offers coating, bending, and double jointing facilities. 

On Monday, in the early morning trading session, the stock of the company was trading at Rs. 135.80, up by 1.99 per cent or Rs. 2.65 per share. The 52-week high is Rs. 160.05 and 52-week low is Rs. 89.30 on BSE.