Welspun Corp Ltd updates on DI pipe making facility

Welspun Corp Ltd. (WCL) has announced full operational readiness and commencement of regular dispatches from its state-of-the-art Ductile Iron (DI) pipe making facility through its wholly owned subsidiary Welspun DI Pipes Limited from October 19, 2022.

This plant can produce 400,000 MT of Ductile Iron (DI) Pipes and the integrated complex is equipped with the latest cutting-edge technology. The facility has recently received BIS certification as well. Production capacity is being ramped up on gradual basis.

Commenting on this, Mr. B. K. Goenka, Chairman, Welspun Group said, "This integrated facility is one of the largest single location DI Pipe Plant in India. We are delighted to be contributing towards the Jal Jeevan Mission and meaningfully improving the Quality of Lives. Moreover, with this massive investment, we will create several new direct and indirect employment opportunities in Gujarat and across the country."

Mr. Vipul Mathur, Managing Director and Chief Executive Officer, Welspun Corp Limited added, "We have been relentlessly working towards bringing this facility on-stream. The new plant will support WCL's growth strategy over the coming years. It will be producing high-quality DI Pipes and play a pivotal role in supporting access to potable drinking water security on long-term basis to every household in India."

Shares of Welspun Corp Limited was last trading in BSE at Rs. 228.75 as compared to the previous close of Rs. 227.30. The total number of shares traded during the day was 50851 in over 1402 trades.

The stock hit an intraday high of Rs. 230.15 and intraday low of 225.15. The net turnover during the day was Rs. 11593227.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 DuctileIronPipe WelspunDIPipes