Welspun Corp jumps after bagging order for supply of line pipes

Welspun Corp jumped 10.35% to Rs 107.70 at 10:00 IST on BSE after the company said that it has won an order for supply of 216 kilometric tonnes line pipes for an onshore project in America.

The company made announcement after market hours yesterday, 26 November 2015.

Meanwhile, the BSE Sensex was up 72.44 points, or 0.28%, to 26,031.07.

Huge volumes were witnessed on the counter. On BSE, so far 4.8 lakh shares were traded in the counter, compared with an average volume of 1.57 lakh shares in the past one quarter.

The stock hit a high of Rs 109.70 and a low of Rs 103 so far during the day. The stock hit a 52-week high of Rs 153.60 on 5 August 2015. The stock hit a 52-week low of Rs 51.90 on 27 March 2015.

The stock had underperformed the market over the past one month till 26 November 2015, falling 10.34% compared with 5.13% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 12.7% as against Sensex's 0.95% rise.

The mid-cap company has an equity capital of Rs 131.59 crore. Face value per share is Rs 5.

Welspun Corp said that with the addition of this order, current order book of the company has crossed 1040 kilometric tonnes (K MTs) worth Rs 6400 crore.

Welspun Corp's consolidated net profit surged 1825.5% to Rs 101.09 crore on 5.3% growth in net sales to Rs 2435.99 crore in Q2 September 2015 over Q2 September 2014.

Welspun Corp is a one-stop service provider offering complete pipe solutions.

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