Buzz on huge overseas order lifts Welspun

Shares of Welspun Corp rose 1.4% to Rs 248.95 in a weak market on speculation that the company may be close to getting a large order.

The buzz is that the pipe manufacturer may get a Rs 6,000-crore order from a Canadian company. According to analysts, Welspun’s order book is worth about Rs 6,600 crore. In July so far, the stock has risen about 7.5%. A broker said that rumours about the company getting big orders have done the rounds in the past, as the stock is a favourite of a Mumbai-based operator.

Analysts remain optimistic about the company’s prospects, following its recent acquisition of MSK Projects and hopes that the global economic recovery would result in more order flows.