Welspun Corp gains over 3 per cent on receiving orders worth Rs 1,200 crore

Welspun Corp Limited today announced that it has received orders of approximately 129 KMT, valued at Rs 1,200 crore. 

Out of the total order, around 69 KMT would be executed from the company’s Saudi facility, including an order of 45 KMT from Saudi Aramco, which is one of the company’s most prestigious clients. 

Reacting to this, the stock of Welspun Corp today jumped 4.39 per cent and made an intraday high of Rs 136.70 per share. 

The company reported a net profit of Rs 106.91 crore in Q2FY21, an increase of 3.73 per cent. It had reported a profit of Rs 103.07 crore in Q2FY20. The company reported a total income of Rs 1,277.07 crore for Q2FY21, a decrease of 46.69 per cent as against the total income of Rs 2,301.81 crore for Q2FY20. 

The company, along with its subsidiaries, is engaged in the business of production and coating of high-grade submerged arc welded pipes, hot-rolled steel plates & coils as well as power generation.  

According to BSE data, the stock traded at a P/E multiple of 4.21 and a price-to-book ratio of 1.52. The stock has a 52-week high and a 52-week low of Rs 233.70 per share and Rs 55 per share, respectively. 

The share price of the company closed at Rs 135.20, up by 3.25 per cent on BSE.