Stock of Welspun Corp Limited rose over 2% on Thursday as the firm received the new line pipes orders in India and US. “With this our cumulative orders received since our last disclosure have crossed 150 KMT valued at Rs 1,500 crore. The new orders also include a gas pipe line order in US. These orders will be executed in FY24 and FY25.
Welspun Corp stock touched an intraday high of Rs 571, rising 2.21% on BSE. Later, the stock ended 0.24% higher at Rs 560 on BSE. The stock has gained 144.33% in a year and risen 110% in six months. Welspun Corp stock opened marginally lower at Rs 557.15 against the previous close of Rs 558.65.
The shares trade higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Total 0.65 lakh shares changed hands amounting to turnover of Rs 3.68 crore on BSE.
Market cap of Welspun Corp stood at Rs 14,653 crore on BSE.
The stock touched a 52-week high of Rs 579.40 on January 1, 2024 and a 52-week low of Rs 177.85 on February 27, 2023.
Welspun Corp Limited is engaged in the business of manufacturing steel products and plastic products. The company is engaged in the business of production and coating of high-grade submerged arc welded pipes, hot rolled steel plates and coils. It is a service provider of welded line pipes, ductile iron pipes, stainless steel pipes, tubes and bars.
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