Welspun Corp advances 13.92% in two days on healthy order book

Welspun Corp jumped 12.66% to Rs 81 at 15:18 IST on BSE, with the stock extending Monday's gain triggered by the company saying it has won fresh domestic orders to take its current order book to Rs 5800 crore.

Meanwhile, the S&P BSE Sensex was up 337.10 points or 1.51% at 22,680.55

On BSE, so far 5.34 lakh shares were traded in the counter as against average daily volume of 96,129 shares in the past one quarter.

The stock hit a 52-week high of Rs 84.40 in intraday trade today, 9 April 2014. The stock hit a low of Rs 71.90 so far during the day. The stock had hit a 52-week low of Rs 26.65 on 21 August 2013.

The stock had outperformed the market over the past one month till 7 April 2014, gaining 6.28% compared with the Sensex's 1.93% rise. The scrip had also outperformed the market in past one quarter, surging 13.23% as against Sensex's 7.97% rise.

The small-cap company has equity capital of Rs 131.47 crore. Face value per share is Rs 5.

Shares of Welspun Corp gained 13.92% in two trading days from Rs 71.10 on 4 April 2014. The stock market was closed on Tuesday, 8 April 2014 on account of Ram Navami.

Welspun Corp before market hours on Monday, 7 April 2014 said the company has won fresh domestic orders (total orders stands at approx 900k metric tons) to take its current order book to Rs 5800 crore.

Welspun Corp reported a consolidated net profit of Rs 7.51 crore in Q3 December 2013 as against net loss of Rs 80.59 crore in Q3 December 2012. Net sales declined 27.6% to Rs 1742 crore in Q3 December 2013 over Q3 December 2012.

Welspun Corp is a one-stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from half inch to 140 inches, along with specialized coating, double jointing and bending.

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