Welspun Corp surges after its associate company bags contract for manufacture and supply of steel pipes

Welspun Corp is currently trading at Rs. 211.50, up by 0.65 points or 0.31% from its previous closing of Rs. 210.85 on the BSE.

The scrip opened at Rs. 211.20 and has touched a high and low of Rs. 214.60 and Rs. 207.00 respectively. So far 49767 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 250.50 on 20-May-2022 and a 52 week low of Rs. 106.00 on 23-Aug-2021.

Last one week high and low of the scrip stood at Rs. 228.00 and Rs. 207.00 respectively. The current market cap of the company is Rs. 5498.20 crore.

Welspun Corp
Welspun Corp

The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 16.64% and 33.35% respectively.

Welspun Corp’s associate company — East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA), has been awarded with a contract by SWCC for manufacture and supply of steel pipes.

The contract is valued at SAR 324 million (approximately) including value added tax & the same will be executed in this financial year (FY23).

This is in addition to the recent award of an SAR 490 million contract in May 2022 and SAR 497 million contract in March 2022, both of which were also awarded by SWCC.

Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.

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