Welspun Corp rises 5 per cent on winning orders

Welspun Corp has received additional pipe orders of 212 KMT on a global basis. The shares gained almost 5 per cent on an intraday basis.

Out of the 212 KMTs, 151 KMT will be serviced from India. The company's current order book stands at 1,667 KMTs, worth Rs. 145 billion, after considering execution up to February 2019.

Welspun Corp Limited is a welded line pipe manufacturing company engaged in offering solution in line pipes with a capacity to manufacture 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. The company also offers coating, bending and double jointing facilities.

The stock of Welspun Corp on Tuesday opened at Rs. 127.75 against Monday’s close of Rs. 119.45. At 14:46 hours, the shares were trading at Rs. 123.90, gaining 3.73 per cent. The stock reached an intraday high of Rs. 127.75 and an intraday low of Rs. 123.05 per share on the BSE. The 52-week high stood at Rs. 186.90 and the 52-week low was Rs 89.30 per share on the BSE.

Meanwhile, Sensex was at 37,519.51, up by 1.26 per cent or 465.41 points.