Shares of Welspun Corp Ltd were trading in the green and 4% higher on 24 April after the company announced securing an export order worth Rs 611 crore.
In its regulatory filing, the company said that it received a Letter of Award for exporting line pipes from India to Latin America. The order is to supply LSAW (longitudinal double submerged arc welding) pipes, coating and bends to Latin America for a total consideration of Rs 611 crore, which has to be executed during the current fiscal year.
This is the second such order received by the company in such quick succession.
Earlier on 22 April, the company secured multiple line orders in India and the USA for a total consideration of Rs 872 crore. One of these orders is for supplying Concrete-Coated LSAW Pipes and bends for a critical oil transportation project in the Middle East.
Furthermore, last month, the company secured line pipe orders for a total order value of Rs 2,039 crore.
Additionally, the company emphasised its commitment to bolstering Sintex, acquired in March 2023, aiming for significant growth for the plastic water tank manufacturer over the next four to five years.
At 12:23 pm, the shares of Welspun Corp were trading 2.41% higher at Rs 574.80 on NSE.
The post Welspun Corp Shares Rally 4% on Securing an Order Worth Rs 611 Crore appeared first on Equitypandit.
Shares of Welspun Corp Ltd were trading in the green and 4% higher on 24 April after the company announced securing an export order worth Rs 611 crore. In its regulatory filing, the company said that it received a Letter of Award for exporting line pipes from India to Latin America. The…
The post Welspun Corp Shares Rally 4% on Securing an Order Worth Rs 611 Crore appeared first on Equitypandit. Read MoreMARKETS, Line Pipe Orders, New Order, Welspun Corp Ltd
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