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New order win boosts Welspun Corp

Capital Market 

Welspun Corp was locked in 5% upper circuit at Rs 113.70 after the company received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.

In a regulatory filing after market hours yesterday, Welspun Corp said these orders would be executed from India and will help boost the mill utilization for India facilities. The inflow of orders is not only from the domestic O&G and water business but also from exports, the company said.

With these orders, the company's order book stands at 755 KMT valued at approximately Rs 6,300 crore, after considering execution up to August 2020, it added.

Shares of Welspun Corp rose for fourth consecutive session. The stock has added 16% in four trading days from its previous closing low of Rs 98.05 hit on 24 September 2020.

Welspun Corp offers pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 30 2020. 09:16 IST