Welspun Corp shares hit record high on order win in US 

Shares of Welspun Corp Ltd hit record high on Tuesday after the company said it won two large orders each for the supply of HSAW-coated pipes for Natural Gas Pipeline Projects in the US. These new orders were secured by the company's US plant, taking the cumulative value of orders received by the unit till Q3 FY25 so far to over Rs 7,000 crore.

Welspun Corp stock gained 4.43% to Rs 824.50 on BSE on Monday. Market cap of Welspun Corp stood at Rs 21,141 crore on BSE.   

The stock has gained 49.18% in a year and risen 228% in two years. Earlier, Welspun Corp stock opened higher at Rs 814.95 against the previous close of Rs 789.45. 

The stock fell to a 52-week low of Rs 441 on June 4, 2024. 

Welspun Corp shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages, which indicates the momentum is bullish both in long and short term.  

In terms of technicals, the relative strength index (RSI) of Welspun Corp stands at 63, signaling the stock is neither oversold nor overbought on charts. 

The stock has a beta of 1.3, indicating high volatility in a year. 

The execution of these orders is slated for FY25 and FY26. "These achievements reinforce our dominant market share in the US oil and gas transmission sector and reflect our strong position in the industry," the company said in a regulatory filing. "With an extremely positive outlook for the US market, Welspun is well-positioned to capitalise on future opportunities," it added.

"Further, our outlook for the USA market remains extremely positive for next couple of years and Welspun is fully poised to benefit from more opportunities in the time to come," the firm said. 

Welspun Corp Limited is engaged in the business of manufacturing steel products and plastic products. The company is engaged in the business of production and coating of high-grade submerged arc welded pipes, hot rolled steel plates and coils. It is a service provider of welded line pipes, ductile iron pipes, stainless steel pipes, tubes and bars.