Welspun Corp rose 2.65% to Rs 254.05 after the company announced that it has secured a significant order for a Carbon Capture Pipeline project in the United States.
This order is for supply of 785 miles (1,256 KM) or 100,000 MT (approximately) of high frequency induction welding (HFIW) pipes and would be used for transporting captured carbon dioxide.
The pipes for this order will be produced from the company's Little Rock plant in the U.S. and the same will be executed in FY 23‐24.
"Our strong supply track record has positioned both Welspun's Helical Submerged Arc Welded (HSAW) & High Frequency Induction Welding (HFIW) plants as the top facilities in the North American market, the company said in a statement.
Welspun Corp is a one-stop service provider offering end-to-end pipe solutions.
The company's consolidated net profit declined 95.78% to Rs 4.11 crore despite a 3.69% rise in sales to Rs 1288.23 crore in Q1 FY23 over Q1 FY22.
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