Welspun Corp secures new orders worth Rs600 crore; stock gains 2%

27 Jun 2022 , 09:19 AM

Welspun Corp Ltd. (WCL) has secured various orders to be executed from India and the USA across the Oil & Gas and Water sector, of –47,000 MT amounting to -–Rs600 crore.

As per the regulatory filing, these include, receipt of an order for the supply of onshore coated pipes and bends for a pipeline project in Australia. This is a prestigious order for the manufacture and supply of –19,700 MT of pipes and 180 bends for transportation of gas.

This export order will be executed from WCL’s plant at Anjar, India in H2 F122-23. The challenging specifications of the pipes to be supplied, shows the confidence of the customers on WCL’s engineering quality and technical excellence, the company said.

Further, this will be the fourth order from Australia that WCL has won in the recent past.

It further strengthens WCL’s position as a global market leader, servicing critical orders both in offshore & onshore, across all geographies.

At around 9:19 AM, Welspun Corp was trading at Rs218.05 per share up by Rs5 or 2.35% from its previous closing of Rs213.05 per share on the BSE.