Welspun-Gujarat Stahl secures orders worth Rs 1089 crores ($250 mn)

Welspun-Gujarat Stahl Rohren Ltd has announced that the Company has bagged prestigious pipeline orders worth Rs 1089 Crores (USD 250 mn) for the supply of line pipes in India and Overseas. These projects are to be executed for both LSAW and HSAW Pipes. These orders take the Company's current pending order book position to approximately Rs 4,000 Crores, including the orders executed in the last quarter of FY 07.

Commenting on the orders, Mr. B K Goenka - Vice Chairman and Managing Director of the Welspun Group said "Though our emphasis on 'Engineering Excellence' we have demonstrated our ability to execute large and prestigious orders successfully. The new orders are testimony to the engineering ability that we have built in our Country."

The stock was trading at Rs.130.10, up by Rs.5.70 or 4.58%. The stock hit an intraday high of Rs.132.25 and low of Rs.127. The total traded quantity was 1481490 compared to 2 week average of 802726.

Source : Equity Bulls

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