Welspun Corp jumps after winning orders

Welspun Corp rose 4.54% to Rs 142.75 at 9:45 IST on BSE after the company announced that it received orders for supply of at 124 K MTs pipes.

The announcement was made after market hours on Friday, 22 December 2017.

Meanwhile, the S&P BSE Sensex was up 8.70 points, or 0.03% to 33,949.

On the BSE, 2.01 lakh shares were traded in the counter so far, compared with average daily volumes of 72,000 shares in the past two weeks. The stock had hit a high of Rs 155 and a low of Rs 141.60 so far during the day. The stock hit a 52-week high of Rs 165.70 on 6 November 2017. The stock hit a 52-week low of Rs 71.70 on 26 December 2016.

Welspun Corp said that with the addition of these orders, the company has current order book of 1198 K MTs valued at Rs 7400 crore.

On a consolidated basis, Welspun Corp reported net profit of Rs 40.37 crore in Q2 September 2017 as against net loss of Rs 34.85 crore in Q2 September 2016. Net sales rose 72.27% to Rs 1922.03 crore in Q2 September 2017 over Q2 September 2016.

Welspun Corp offers complete pipe solution with a capability to manufacture line pipes ranging from 1/2 inch to 140 inches, along with specialized coating, double jointing and bending. The line pipe industry caters to the sectors like energy and water resource management where in the line pipes supplied are used to construct cross-country pipelines for transportation of oil, gas, petro-products and water in the safest and most environment friendly way.

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