Welspun Corp gains on winning orders

The stock surged 14% to Rs 155 on the BSE in intra-day trade after the company announced that it received orders for supply of at 124 K MTs pipes.

Welspun Corp surged 14% to Rs 155 on the BSE in intra-day trade after the company announced that it has received orders for supply of at 124 K MTs pipes.

“Including a large oil & gas order we have received orders for supply of @ 124 K MTs pipes since our last disclosure,” Welspun Corp said in a regulatory filing on Friday after market hours.

With the addition of these orders, the company has current order book of 1198 K MTs valued at Rs 7,400 crore, it added.

Earlier, on December 18, 2017, Welspun Corp had said it had received an order from a customer in India for supply of 57K MTs pipes for a water project in India. At that time the company had order book position of at 1,074 K MTs pipes worth Rs 6,400 crore.

At 12:02 PM; the stock was trading 5% higher at Rs 143 on the BSE, as compared to 0.05% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.9 million shares changed hands on the NSE and BSE so far.