 "Welspun Corp hits lifetime high after Rs 146 cr order from Middle East")
Welspun Corp share price today surged up to 3 per cent on the BSE, hitting its all time high at Rs 762.70 per share. This came after the company bagged an order worth Rs 146 crore on Monday.
“We are pleased to announce the receipt of a prestigious order from the Middle East for supply of Coated LSAW Pipes and Bends for sour service. With this, the cumulative value of the line pipe orders received both in India and USA stands at Rs 1,348 Crore since our last disclosure made on 24th July, 2024,” the company said in an exchange disclosure.
Execution of these orders will be done during FY25 and FY26, the company further said in the disclosure.
Welspun Corp share price history
Welspun Corp share price has surged 45.64 per cent in the last six months against BSE’s Sensex rise of 14.86 per cent. Meanwhile, in the last one year the company’s shares have appreciated by 90.87 per cent, while Sensex climbed 28.48 per cent.
Its shares are trading at price to earnings valuation of 38.60 times, while having an earning per share of Rs 19.17. The company has a total market capitalization of Rs 4,344.61 crore.
More From This Section
At 12:47 PM, Welspun Corp stock price rose 1.47 per cent to Rs 750.45 per share on the BSE. By comparison, the BSE’s Sensex dropped by 1.12 per cent at 84,610.45 level.
Also Read: Number 13 has been unlucky for stock markets in 2024; will history repeat?
Also Read: Number 13 has been unlucky for stock markets in 2024; will history repeat?
Welspun Corp financial performance
Welspun Corp. reported a 47 per cent year-on-year increase in net profit for the first quarter of FY 2025, reaching Rs 247.94 crore, compared to Rs 168.45 crore in the same quarter last year, aligning with analysts' estimates. However, revenue declined by 22.9 per cent to Rs 3,137.23 crore, down from Rs 4,069.27 crore in the previous year.
Welspun Group is engaged in various sectors, including line pipes, home textiles, infrastructure, warehousing, retail, oil and gas, steel, advanced textiles, and flooring solutions. As the flagship company of the $2.7 billion group, Welspun Corp is a provider of welded line pipes and is a preferred supplier to several Fortune 100 oil and gas companies.