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Welspun Corp share hits upper circuit on Rs 1,400-crore order win

Welspun Corp stock has gained 16% in the last 4 days. The firm's market capitalisation stood at Rs 2,996.26 crore as of today's session

twitter-logoBusinessToday.In | September 30, 2020 | Updated 15:02 IST
Welspun Corp share hits upper circuit on Rs 1,400-crore order win
Welspun Corp share touched its 52-week high of Rs 233.70 on 11 Feb 2020 and 52-week low of Rs 55 on 22 May 2020, respectively

Welspun Corp share price was locked in the upper circuit of 5% on Wednesday's early session after the company said it has bagged orders valuing close to Rs 1,400 crore.

The company in a regulatory filing said it received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.

Following the update, share price of Welspun Corp opened with a gain of 4.99% today and touched an intraday high of Rs 113.7 as against the last close of Rs 108.30 on BSE.

Currently, the Welspun Corp stock is trading higher than 5, 20, 50, 100 and 200-day moving averages.

Welspun Corp stock has gained 16% in the last 4 days. The firm's market capitalisation stood at Rs 2,996.26 crore as of today's session.

Welspun Corp share touched its 52-week high of Rs 233.70 on 11 Feb 2020 and 52-week low of Rs 55 on 22 May 2020, respectively.

The orders were not only from the domestic O&G and water business but also from exports. These orders of approximately 147 KMT would be executed from India and will help boost mill utilisation," the press release said.

With these orders, the company's order book now stands at 755 KMT, valued at approximately Rs 6,300 crore, after considering execution up to August 2020.

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