Welspun Gujarat soars on bids abroad

DALAL STREET SPIKES

Welspun Gujarat Stahl Rohren gained nearly 12 per cent from its previous close of Rs 104.30 to Rs 116.90, after touching a high of Rs 121. Volumes saw a 13-fold rise, from a little shy of 1 lakh shares traded in the previous session, to over 1.4 million shares traded on the counter during the session.

The spurt came on the news regarding the company's plans to bid for pipeline projects in Saudi Arabia, Iran and Indonesia. Further, the company is said to have plans to approach oil and gas companies in West Asia, North America and Asia.