Welspun Corp share price skyrocketed nearly 17 per cent during the intraday trade on Friday after the company bagged its largest-ever order worth Rs 17,200 crore for supply of pipes from its US manufacturing facility.
Last seen, the stock was trading at Rs 2,342.80, up 16.84 per cent or Rs 337.60.
The stock started the session slightly higher at Rs 2,175 as compared to last day’s closing of Rs 2,005.20 on NSE. However, post the announcement was made through an exchange filing, the Welspun Corp shares picked momentum, hitting a high at Rs 2,347.60–till the time of writing.
Welspun Corp informed, receiving its largest single order ever, worth Rs 17,200 crore (approximately US$1.8 billion), for the supply of pipes from a US manufacturing facility.
This order has brought Welspun Corp.’s global order book to a record US$4.4 billion (Rs 42,100 crore), the highest in the company’s history, providing a strong foundation for continued growth and improved revenue visibility in the coming years.
“This is the largest single order ever, worth Rs 17,200 crore (approximately US$1.8 billion),” the company said in a statement.
This order, which will be executed between FY2028 and FY2029, significantly strengthens the company’s order book and further strengthens its multi-year revenue visibility.
This order further strengthens Welspun Corp’s position in the North American energy infrastructure market, where the company has been continuously investing in expanding its manufacturing capacity.
“North America has been a strategically important market for us, and we have continued to invest ahead of the curve to strengthen our manufacturing and technological capabilities in the region…,” Welspun World Chairman BK Goenka said.
“The North American energy infrastructure market continues to present significant opportunities, and our investments in capacity, technology and customer relationships have positioned us well to capture this growth,” Welspun Corp Ltd Managing Director & CEO Vipul Mathur said.
Welspun Has Diversified Pipe Production Portfolio
Welspun Corp. Ltd. (WCL) has a diverse portfolio, including line pipe, ductile iron pipe, stainless steel bars, pipes and tubes, and TMT rebar.
The company serves customers across six continents and over 50 countries, supported by world-class manufacturing facilities in India, the United States, and Saudi Arabia.