Welspun Corp bags orders worth Rs 777 crore

Welspun Corp Ltd on Thursday said it has bagged multiple orders worth about Rs 777 crore in the overseas and domestic markets.

“We have received multiple orders of approximately 93 KMT (kilometric tonnes) valuing close to Rs 777 crore. This includes a single order of approximately 50 KMT received from a large client in the Middle East which would be executed from our facility in Saudi Arabia,” Welspun Corp Ltd said in a BSE filing.

Welspun Corp Ltd said most of the other orders received will be executed from our facilities in India for the domestic market.

With these orders, the company’s book stands at 586 KMT, valued at Rs 5,300 crore after considering execution up to February 2021, the filing said.

Welspun Corp, the flagship company of Welspun Group, is a leading welded line pipe manufacturer.

Shares of Welspun Corp Ltd were trading 2.98 percent higher at Rs 133.10 apiece on BSE.

News Source: PTI