Welspun-Gujarat Stahl bags International orders worth Rs 1166 Crores

Welspun-Gujarat Stahl Rohren Ltd has announced that the Company has bagged prestigious pipeline orders worth Rs 1166 crores (USD 288 million) for the supply of line pipes overseas. These orders have come just after a month of the Company announced the doubling of their net profit of 113.91% in their financial results 2006-07. The new orders have taken the Company's pending order book position to approximately Rs 5,166 crores.

Commenting on the orders, Mr. B K Goenka - Vice Chairman and Managing Director of the Welspun Group said, "We strive to the nothing less than be the Best in what we do and with successive new orders received within a span of a mouth, is testimony of the growth that has been evident over the last few years and we could clearly see W.G.S.R.L emerging into a much stronger and robust Company, he adds".

The stock was trading at Rs.184.15, up by Rs.5.55 or 3.11%. The stock hit an intraday high of Rs.187.80 and low of Rs.180. The total traded quantity was 1725970 compared to 2 week average of 1621490.

Source : Equity Bulls

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