Welspun Corp stock hits 52-week high after Rs5000 crore plus order win in US

Welspun Corp Ltd has introduced successful the one largest order in its historical past for provide of pipes valued at Rs5000 + crore (approx) in america.

This order is for provide of 325,000 MT (approx) of enormous diameter coated pipes for transporting pure fuel from the Permian Basin to Houston. The pipes for this order will probably be produced from our Little Rock plant within the US and the identical will probably be executed over a interval of 12 months, commencing H2 of FY 23.

This massive new order from the US comes on the again of one other win we had introduced in April 2022, of a 26,000 MT order from a long-standing buyer in North America, in addition to one other massive order from Australia.

With this, the order guide as on date (excluding Saudi) stands at 704,000 MT valued at Rs10,500 crore (approx).

Vipul Mathur, Managing Director and Chief Government Officer, Welspun Corp Restricted, mentioned, “We’re delighted to win the one largest order within the historical past of our firm. Our deep understanding of buyer wants, high quality orientation, and impeccable execution monitor document coupled with world class expertise and innovation is what differentiates us.

Our pan world order guide and successive wins in a extremely aggressive surroundings validate our world management place on this market phase.

We’re assured that given the prevailing excessive vitality costs and rising demand state of affairs, additional alternatives are prone to come up over the mid-to-long time period in each the World and the US market, and we’d see extra alternatives being transformed to enterprise, enabling a wholesome and worthwhile order guide at Welspun Corp over the following few years. “

On Friday at round 12:25 PM, Welspun Corp was buying and selling at Rs234.90 apiece up by Rs26.15 or 12.53%, after hitting 52-week excessive at Rs238.95 per piece on the BSE.