Welspun Gujarat spirals up on Rs 500 cr export order

DALAL STREET SPIKES

The Welspun Gujarat scrip was up 10.80 per cent to Rs 96.40 after the company bagged an export order worth Rs 500 crore for the supply of coated line pipes to the "South Sumartra-West Java Gas" pipeline located in the Grissik Pagardewa region of Indonesia.

The supply of pipes will take place between Feb-July 2006. The company has an healthy order book of Rs 1800 crore. Welspun plans to enhance its coated pipes per annum from 0.4 million tonne to 1.4 million tonne after implementing its project at Anjar.

Analysts remain very optimistic about pipe suppliers and expect the product pipeline infrastructure to triple over the next five years.