Welspun Corp hits new high

On the back of an over 4-times rise in volumes, Welspun Corp, which had closed on Friday at Rs.247.50, opened higher today at Rs.252.30 and went on to hit a new high at Rs.271.95.

The stock hit a new high on the company getting a new order. This was for a Carbon Capture Pipeline in the USA.

This order is for supply of 785 miles (1,256 KM) or 100,000 MT (approximately) of High  Frequency Induction Welding (HFIW) pipes, and would be used for transporting captured carbon dioxide.

The pipes for this order will be produced from our Little Rock plant in the U.S. and the same will be exexecuted  in FY 23?24. 

Financial details of the order are not mentioned.