Welspun bags line pipe orders worth Rs 788 cr

Welspun Corp, the flagship company of the Welspun Group, today said it has bagged orders worth Rs 788 crore for plates, coating and other line pipe items.

"With these orders, the current order book of the company stands at Rs 6,941 crore," the company said in a filing to the Bombay Stock Exchange.

Commenting on the order, Welspun Chairman B K Goenka said, "With the oil and gas sector showing signs of revival, the market is looking bullish. We are positive that with our technical expertise, coupled with global reach, the company will delivery high quality products and services to our customer."

Welspun Corporation is among the largest line pipe companies in the world and has a manufacturing capacity of 2 million tonnes per annum at Dahej, in Gujarat. The company also has manufacturing facilities in the United States of America and Saudi Arabia.

Shares of the company were up 0.83% at Rs 189 apiece on the Bombay Stock Exchange at 1400 hours today.