Welspun Corp spurts on partially resuming operations

Welspun Corp was locked in an upper circuit of 5% at Rs 71.40 after the company said it has partially resumed operations at its plant in Anjar, Gujarat.

"This is a partial re-start, and rest of the plants will be re-started gradually as and when we are fully prepared. We are currently starting LSAW pipe operations with an export order of strategic importance," the company said in a statement on Tuesday (14 April 2020).

In a separate announcement on Tuesday, Welspun Corp said it has resumed its pipe operations and partially the coating operations at Dammam in Saudi Arabia.

The company had earlier temporarily closed its units to prevent and contain the spread of COVID-19.

Welspun Corp's consolidated net profit surged 642.95% to Rs 223.48 crore on a 23.75% jump in net sales to Rs 2,844.67 crore in Q3 December 2019 over Q3 December 2018.

Welspun Corp is a welded line pipe manufacturing company engaged in offering solution in line pipes with a capacity to manufacture longitudinal submerge-arc welded (LSAW), spiral helical submerged arc welded (HSAW) and high frequency electric resistance welded (HFERW)/high frequency induction (HFI) electrical resistance welded (ERW) pipes.

Powered by Capital Market - Live News