Welspun Corp sizzles after overseas order win

Welspun Corp rose 2.5% to Rs 145.40 at 14:05 IST on BSE after the company was awarded a contract for supply of large diameter pipes for a water project in the MENA region.

The announcement was made during market hours today, 10 April 2018.

Meanwhile, the S&P BSE Sensex was up 123.74 points, or 0.37% to 33,912.28.

On the BSE, 1.24 lakh shares were traded in the counter so far, compared with average daily volumes of 64,000 shares in the past two weeks. The stock had hit a high of Rs 148.60 and a low of Rs 140.15 so far during the day. The stock hit a 52-week high of Rs 197 on 22 January 2018. The stock hit a 52-week low of Rs 81 on 19 April 2017.

Welspun Corp said that the company was awarded a contract for supply of 4.17 lakh million tonne of large diameter pipes for a water project in the Middle East and North Africa region (MENA) region. With this addition, the company's current order book stands at an all-time high of 1.49 million MTs valued at Rs 9544 crore.

On a consolidated basis, Welspun Corp reported net profit of Rs 69.09 crore in Q3 December 2017 as against net loss of Rs 13.05 crore in Q3 December 2016. Net sales rose 105.16% to Rs 2229.91 crore in Q3 December 2017 over Q3 December 2016.

Welspun Corp is among the largest welded line pipe manufacturing companies in the world.

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