3,000 crore order win and FIIs & DIIs increase stake: This multibagger pipe stock secures major contracts in Saudi Arabia!

Shares of the company gained more than 80 per cent in the last six months.

Welspun's subsidiary EPIC is on a roll in Saudi Arabia. The company has bagged over Rs 3,000 crore in new orders since November 2023, solidifying its position as the leading HSAW pipe manufacturer in the region.

The mega-deal includes a massive SAR 1 billion contract with SWCC for water infrastructure pipes, impacting financials for years to come and aligning with Saudi Arabia's Vision 2030 goals. Additional orders from oil giant Aramco for both pipe manufacturing and finishing solidify EPIC's presence in the oil & gas sector.

Also read, Strategies and tricks: Effective financial planning for a secured retirement

EPIC's integrated facilities, proven execution track record, and focus on quality position them well to capitalize on future projects in both water and oil & gas sectors. This win-win situation not only boosts Welspun's financials but also contributes to Saudi Arabia's strategic development plans.

Welspun Corp Limited is one of the flagship companies of Welspun Group. It is a leading manufacturer of large-diameter pipes globally, offering a one-stop solution for all line pipe-related requirements with its wide range of high-grade line pipes. These pipes are used for offshore and onshore transmission of oil, gas, and water. It is among the Largest Welded Line Pipe manufacturing companies in the world. The shares of the company have gained about 400 per cent in the last three years and FIIs and DIIs increased their stake in the company in September 2023 respectively.

The stock has shown tremendous growth and investors should keep a close eye on this stock.