Welspun Corp share climbs over 5% on Rs 777-crore orders
BusinessToday.In March 18, 2021
Welspun Corp share rose over 5% today after the company won multiple orders worth close to Rs 777 crore. Share of Welspun Corp touched an intraday high of Rs 136.2, rising 5.38% against previous close of Rs 129.25. The small cap share has gained 68.51% in one year and risen 0.53% since the beginning of this year.
Welspun Corp share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm rose to Rs 3,402 crore on BSE.
Later, the share closed 3.52% higher at Rs 133.80. The orders include a single order of approximately 50 KMT received from a large client in the Middle East, which would be executed from its facility in Saudi Arabia, the company said.
Most of the other orders will be processed from facilities in India for the domestic market. With these orders, the company's order book stands at 586 KMT valued at approximately Rs 5,300 crore after considering execution up to February 2021, Welspun said.
The stock touched a 52-week high of Rs 145.50 on January 8, 2021 and a 52-week low of Rs 55.00 on May 22, 2020. It trades 9.21 percent below its 52-week high and 140.18 percent above its 52-week low.
Welspun Corp is one of world's-leading welded line pipe manufacturer and the flagship company of the Welspun Group. Meanwhile, Sensex ended 585.10 points or 1.17 per cent lower at 49,216.52 and Nifty slumped 163.45 points or 1.11 per cent to 14,557.85 in today's session.