Welspun Corp wins contract for supply of 102 KMT of pipes
On Thursday, Welspun Corp Limited informed the bourses that the company has been awarded contracts for the supply of 102 kilometre-tonne (KMT) of pipes from various parties.
Out of the total combined orders, around 90 KMT is for the company’s US facility, which includes a large order received from North American customers for a pipeline to be commissioned in US.
In an exchange filing, the company stated that the agreement demonstrates the confidence that its customer has on its technical and execution capabilities for servicing large projects, reinforcing its global leadership position in the line pipe business during challenging times such as the ongoing COVID-19 pandemic.
The company’s order book now stands at 764 KMT valued at around Rs 6,200 crore, after considering execution up to April 2020.
Welspun Corp Limited, together with its subsidiaries, is engaged in the business of production and coating of high-grade submerged arc welded pipes, hot rolled steel plates and coils as well as power generation. Its manufacturing facilities are located in India, the United States and Saudi Arabia.
On Thursday the stock of the company closed at Rs 56.20, down by 1.83 per cent or Rs 1.05 per share. The 52-week high is Rs 233.70 and the 52-week low is Rs 55.25 on BSE.