Multibagger in just 1 year: This iron & steel company bags new orders worth Rs 611 crore from Latin America

The stock gave multibagger returns of 165 per cent in just 1 year whereas BSE Industrials Index is up by 84 per cent.

Welspun Corp Ltd has secured a binding Letter of Award (LOA) valued at approximately Rs 611 crore for the export of line pipes, including LSAW pipes, coating, and bends, to Latin America. This contract is contingent upon certain conditions being met and will be followed by a formal Notice to Proceed or Purchase Order expected by the second week of May. The execution of this contract is anticipated to take place in the financial year 2025 (FY25).

Earlier, the company was awarded multiple orders totalling approximately Rs 872 crore for line pipes in both India and the USA. These orders include a notable contract to supply concrete-coated LSAW pipes and bends specifically designed for harsh environments in a critical oil transportation project located in the Middle East.

Welspun Corp Limited is a flagship company of the Welspun Group, one of the world's leading line pipe manufacturers. Known for its advanced manufacturing capabilities and innovative approach, Welspun specializes in producing large-diameter pipes used in various industries, including oil and gas. With a strong focus on sustainability and technology, Welspun Corp is committed to providing solutions that meet the stringent requirements of its global clientele. Its products are integral to major infrastructure projects worldwide, making it a key player in the development and maintenance of critical energy and resource transportation systems.

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On Friday, shares of Welspun Corp surged 0.83 per cent to an intraday high of Rs 581.35 per share from its previous closing of Rs 576.55 per share. The company has a market cap of over Rs 15,000 crore and has been maintaining a healthy dividend payout of 36.7 per cent. The stock gave multibagger returns of 165 per cent in just 1 year whereas BSE Industrials Index is up by 84 per cent. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.