Welspun Corp climbs 13% after winning new orders

Shares of Welspun Corp climbed as much as 13 per cent in morning trade on Tuesday after the company announced that it received orders for supply of 124 K MTs pipes.

With the addition of these orders, the company’s current order book stood at 11,98,000 MTs valued at around Rs 7,400 crore.

The scrip wiped off some of its early gains and was trading 4.83 per cent up at Rs 143.15 at around 10.10 am (IST). Shares of the company opened at Rs 154.50 and touched a high and low of Rs 155 and Rs 140.10, eventually closing 3.92 per cent up at Rs 141.90 on Tuesday.


On a consolidated basis, Welspun Corp registered a net profit of Rs 40.37 crore for the quarter ended September 30, 2017 against the net loss of Rs 34.85 crore in the same period last year.

Net sales rose of the company jumped 72.27 per cent year-on-year to Rs 1,922.03 crore during the quarter under review.

The company is a welded line pipe manufacturing company engaged in offering solution in line pipes with a capacity to manufacture longitudinal submerge-arc welded, spiral helical submerged arc welded and high frequency electric resistance welded/high frequency induction (HFI) electrical resistance welded (ERW) pipes. Welspun Corp also offers coating, bending and double jointing facilities.