Welspun Corp makes a record

Welspun Corp announced today morning receipt of a single large order, the highest in its history.

This is for supply of of 325,000 MT (approx) of large diameter coated pipes for transporting natural gas from the Permian Basin to Houston. The order is valued at Rs. 5000 + crore (approx) in the United States.

The pipes for this order will be produced from its Little Rock plant in the US and the same will be executed over a period of 12 months, commencing H2 of FY 23.

This large new order from the US comes on the back of another win it had announced in April 2022, of a 26,000 MT order from a long-standing customer in North America, as well as another large order from Australia.

With this, the company’s order book as on date (excluding Saudi) stands at 704,000 MT valued at around  Rs.10,500 crore.

The market gave this news a big thumbs up, rising 20% to a 10-year high at Rs.250.50, hitting the days UC.