Welspun Corp Limited receives multiple orders aggregating to approx. Rs. 1725 crore

Welspun Corp Limited have received multiple orders of approximately 164 KMT valuing close to INR 1,725 Crore. These include, reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project.

The company had received this order last year, however, the same was subsequently deferred by the customer due to delay in Final Investment Decision (FID).

Subsequent to the recent FID of the project, the customer has given a go ahead to Welspun for the execution of the Contract.

Most of the above mentioned orders (including Barossa Project) received, will be executed from facilities in India

With these orders, the Company's order book stands at 525 KMT valued at approximately INR 4,800 Crore, after considering execution up to May 2021.

Shares of Welspun Corp Limited was last trading in BSE at Rs.154.9 as compared to the previous close of Rs. 155.7. The total number of shares traded during the day was 113024 in over 1835 trades.

The stock hit an intraday high of Rs. 158 and intraday low of 152.55. The net turnover during the day was Rs. 17537027.

Source : Equity Bulls

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