Welspun Corp at 5% UC

Figuring among the top five gainers on the BSE since the opening bell, Welspun Corp, which had closed yesterday at Rs.10.8.30, opened at Rs.113.70, hinting the 5% UC of the day. The stock has been hitting the UC almost consistently for the past 5 days.

The stock had hit a 52-week high of Rs 233.70 on February 11, 2020, while its 52-week low is at Rs 55, hit on May 22, 2020.

The company announced yesterday late evening that it has received multiple orders of approximately 147 KMT valuing close to Rs. 1,400 crore though it did not spell out the specifics of the orders.

These orders are to be executed from India and will help boost the mill utilization of its India facilities. The inflow of orders is not only from the domestic O&G and Water business but also from exports.

The company said that with these orders, its order book stands at 755 KMT valued at approximately Rs. 6,300 crore, after considering execution up to August 2020.