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Welspun Corp gains after winning order

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Welspun Corp rose 1.66% to Rs 94.80 at 12:15 IST on BSE after the company said that it has won an order for supply of 2 lakh metric tonnes pipes for an offshore project in the Middle East.

The announcement was made before market hours today, 11 March 2016.

Meanwhile, the BSE Sensex was up 9.91 points, or 0.04%, to 24,633.25.

On BSE, so far 75,206 shares were traded in the counter, compared with an average volume of 1.74 lakh shares in the past one quarter. The stock hit a high of Rs 97.15 and a low of Rs 94.35 so far during the day.

The mid-cap company has an equity capital of Rs 132.61 crore. Face value per share is Rs 5.

Welspun Corp said that with the addition of the order, current order book of the company has crossed 11.36 lakh metric tonnes worth Rs 6500 crore.

Welspun Corp's consolidated net profit surged 397.1% to Rs 86.94 crore on 7.9% drop in net sales to Rs 1987.35 crore in Q3 December 2015 over Q3 December 2014.

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

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First Published: Fri, March 11 2016. 12:09 IST