Stock Report

Welspun Corp Limited bags Rs. 5000 crores plus order in US



Posted On : 2022-05-20 10:55:36( TIMEZONE : IST )

Welspun Corp Limited bags Rs. 5000 crores plus order in US

Welspun Corp Limited has announced winning the single largest order in its history for supply of pipes valued at Rs. 5000 + crores (approx) in the United States.

This order is for supply of 325,000 MT (approx) of large diameter coated pipes for transporting natural gas from the Permian Basin to Houston. The pipes for this order will be produced from the Little Rock plant in the US and the same will be executed over a period of 12 months, commencing H2 of FY 23.

This large new order from the US comes on the back of another win the company had announced in April 2022, of a 26,000 MT order from a long-standing customer in North America, as well as another large order from Australia.

With this, ther order book as on date (excluding Saudi) stands at 704,000 MT valued at Rs.10,500 crores (approx).

Vipul Mathur, Managing Director and Chief Executive Officer, Welspun Corp Limited, said, "We are delighted to win the single largest order in the history of our company. Our deep understanding of customer needs, quality orientation, and impeccable execution track record coupled with world class technology and innovation is what differentiates us. Our pan global order book and successive wins in a highly competitive environment validate our global leadership position in this market segment.

We are confident that given the prevailing high energy prices and increasing demand scenario, further opportunities are likely to arise over the mid-to-long term in both the Global and the US market, and we would see more opportunities being converted to business, enabling a healthy and profitable order book at Welspun Corp over the next few years."

Shares of Welspun Corp Limited was last trading in BSE at Rs. 208.75 as compared to the previous close of Rs. 200.45. The total number of shares traded during the day was 136718 in over 3242 trades.

The stock hit an intraday high of Rs. 209.90 and intraday low of 193.50. The net turnover during the day was Rs. 27914276.00.

Source : Equity Bulls

Keywords

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