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Welspun Corp soars on receiving orders for supply of 147 KMT of pipes

currently trading at Rs. 141.10, up by 2.75 points or 1.99% from its previous closing of Rs. 138.35 on the BSE.

The scrip opened at Rs. 140.00 and has touched a high and low of Rs. 141.85 and Rs. 139.30 respectively. So far 54095 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 164.00 on 22-Nov-2018 and a 52 week low of Rs. 89.30 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 143.50 and Rs. 137.10 respectively. The current market cap of the company is Rs. 3709.19 crore.

The promoters holding in the company stood at 48.98%, while Institutions and Non-Institutions held 15.47% and 35.56% respectively.

Welspun Corp has been awarded contracts for supply of 147 KMT of pipes for multiple Oil & Gas as well as water projects in North America, Saudi Arabia and India markets. These projects would be executed from company’s USA and India facilities. Accordingly, the company’s order book stands at 1,403 KMT valued at approximately Rs 11,700 crore.

Welspun Corp is currently in four businesses viz. Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.

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