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Welspun Corp jumps after bagging pipe orders

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rose 2.86% to Rs 142.15 at 10:52 IST on BSE after the company said that it has received additional pipe orders of 180 KMT on a global basis.

The announcement was made after market hours yesterday, 10 April 2019.

Meanwhile, the S&P was up 27.01 points, or 0.07% to 38,612.36.

On the BSE, 83,000 shares were traded in the counter so far compared with average daily volumes of 1.29 lakh shares in the past two weeks. The stock had hit a high of Rs 146.50 and a low of Rs 140.95 so far during the day. The stock hit a 52-week high of Rs 186.90 on 6 September 2018. The stock hit a 52-week low of Rs 89.30 on 18 February 2019.

Out of these additional orders, 136 KMT will be serviced from India, with a major portion to be executed from the new facility in and balance mainly from Accordingly, the company's order book at the start of financial year stands at 1,661 KMT valued at Rs 14,100 crore after considering the above additions and the execution up to March 2019.

On a consolidated basis, net profit of declined 54.69% to Rs 30.08 crore on 13.41% rise in net sales to Rs 2528.85 crore in Q3 December 2018 over Q3 December 2017.

is among the largest welded in the world.

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

First Published: Thu, April 11 2019. 10:51 IST