Welspun Corp share gains as unit bags order of Rs 130 crore for steel pipes

Welspun Corp share rose after the company announced that its associate company EPIC has inked a deal worth Rs 130 crore for manufacturing, supply of steel pipes and coating

Welspun Corp share price: Building material company Welspun Corp share price rose up to 2.24 per cent to hit an intraday high of Rs 805.50 per share on Thursday, December 26, 2024. 

 

However, at 10:00 AM, the Welspun Corp share was off highs and was trading 0.36 per cent higher at Rs 790.65 per share. In comparison, BSE Sensex was trading 0.30 per cent higher at 78,705.17 levels.

 

The rise in the Welspun Corp share came after the company announced that its associate company, East Pipes Integrated Company for Industry (EPIC)has inked a deal with Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company with value exceeding SAR 57 million (approximately Rs 130 crore) for manufacturing, supply of steel pipes and coating. 

 

 

In an exchange filing, Welspun Corp said, “We are pleased to inform you that our associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes announced multi contracts sign off with Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company with value exceeding SAR 57 million (Approx. Rs 130 crore) for manufacturing, supply of steel pipes and coating.”

 

The duration of the contract is seven months, Welspun Corp revealed in a statement. 

 

The company further said that the financial impact of the contract will be reflected in Q1 and Q2 of financial year 2025-2026

 

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities with impeccable track record of execution of mega orders in time and quality with customer centric approach, positions them as a most preferred supplier in the KSA market and continues to pioneer in supporting KSA’s strategic objectives under the Vision 2030. 

 

About Welspun Corp

 

Welspun Corp Limited, formerly known as Welspun Gujarat Stahl Rohren, is a prominent multinational company headquartered in Mumbai. The company specialises in the production of large-diameter pipes and has a global presence, with operations spanning across six continents. 

 

Welspun Corp operates several manufacturing plants, including those in Anjar and Jhagadia (Gujarat), Bhopal (Madhya Pradesh), Mandya (Karnataka), and Little Rock, Arkansas, in the United States.

 

The market capitalisation of Welspun Corp is Rs 20,860.71 crore, according to BSE. The company falls under the BSE 500 category. 

 

The 52-week high of Rs 824.50 per share, while its 52-week low is Rs 441 apiece.