Welspun Corp rose 5.90% to Rs 126.50 at 9:19 IST on BSE after the company said it received additional pipe orders on global basis.
The announcement was made after market hours yesterday, 11 March 2019.Meanwhile, the S&P BSE Sensex was up 273.82 points, or 0.74% to 37,327.92.
On the BSE, 50,000 shares were traded in the counter so far compared with average daily volumes of 94,000 shares in the past two weeks. The stock had hit a high of Rs 127.75 and a low of Rs 125.35 so far during the day. The stock hit a 52-week high of Rs 186.90 on 6 September 2018. The stock hit a 52-week low of Rs 89.30 on 18 February 2019.
Welspun Corp said it received additional pipe orders of 212 KMT on global basis. Out of these additional orders, 151 KMT will be serviced from India. The company's current order book stands at 1,667 KMTs valued at Rs 14500 crore, after considering execution up to February 2019.
On a consolidated basis, net profit of Welspun Corp declined 54.69% to Rs 30.08 crore on 13.41% rise in net sales to Rs 2528.85 crore in Q3 December 2018 over Q3 December 2017.
Welspun Corp is among the largest welded line pipe manufacturing companies in the world.
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