Welspun Corp share price jumped over 5% in early trade on Friday, September 25, after the company announced that its US subsidiary has secured its largest-ever order for High-Frequency Induction Welded pipes, valued at approximately Rs 4,000 crore. The stock rallied as much as 5.3% to Rs 2,837.50 apiece on the BSE.
The gains in Welspun Corp share price today came despite a muted trend in the broader Indian stock market, as the equity benchmarks Sensex and Nifty 50 were trading flat.
Welspun Corp Wins Rs 4,000 Crore Order
Welspun Tubular LLC, a wholly owned subsidiary of Welspun Corp in the US, has secured an order worth approximately $412.5 million, or around Rs 4,000 crore, for the supply of High-Frequency Induction Welded pipes.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
According to the exchange filing by the company, the order is the largest in its history in terms of volume, length, and value.
These pipes will be manufactured at its newly upgraded HFIW mill in Little Rock, USA, which was recently improved with enhanced capabilities.
The company stated that the order is scheduled to be executed during fiscal 2028 and fiscal 2029.
Welspun Corp's global order book reached a record $4.7 billion or Rs 45,000 crore, following this order, which has been the highest in the history of the business.
“With this order, the Company's global order book stands at a record USD 4.7 billion, ~Rs 45,000 crore, the highest in its history,” the company stated in the filing.
The company also stated that this order can reinforce its strategy of expanding global manufacturing capacity and strengthening relationships with international clients.
Also Read: PB Fintech Share Price Trades Volatile After 34% Rout In Previous Session — Do You Own?
Welspun Corp. Stock Price Movement
Welspun Corp share price has delivered multibagger returns, with the stock suring 234% in six months, and 250% on a year-to-date (YTD) basis.
In one year, the stock has surged 218% and has jumped 618% over the past three years. It has delivered more than 2,086% over the past five years.
At 10:20 AM, Welspun Corp share price was trading 3.48% higher at Rs 2,788.30 apiece on the BSE.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
