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Welspun Corp advances on bagging additional pipe orders of 212 KMT
Welspun Corp is currently trading at Rs. 126.10, up by 6.65 points or 5.57% from its previous closing of Rs. 119.45 on the BSE.
The scrip opened at Rs. 127.75 and has touched a high and low of Rs. 127.75 and Rs. 125.35 respectively. So far 70996 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 186.90 on 06-Sep-2018 and a 52 week low of Rs. 89.30 on 18-Feb-2019.
Last one week high and low of the scrip stood at Rs. 127.75 and Rs. 116.50 respectively. The current market cap of the company is Rs. 3168.13 crore.
The promoters holding in the company stood at 48.65%, while Institutions and Non-Institutions held 14.90% and 36.45% respectively.
Welspun Corp has received additional pipe orders of 212 KMT on a global basis. Out of these additional orders, 151 KMT will be serviced from India. The company's current order book stands at 1,667 KMTs valued at Rs 145 billion, after considering execution up to February 2019.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
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