Welspun Corp share price gains 5% on Rs 777-crore orders

Stocks

The orders included one of an approximately 50 KMT from a large client in the Middle East, which would be executed from its facility in Saudi Arabia, the company has said.

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Welspun Corp share price added 5 percent intraday on March 18 after the company bagged multiple orders worth close to Rs 777 crore.

The orders included 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.

At 1030 hours, Welspun Corp was quoting at Rs 132.10, up Rs 2.85, or 2.21 percent, on the BSE.

The share 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 is trading 9.21 percent below its 52-week high and 140.18 percent above its 52-week low.

The company’s trailing 12-month (TTM) EPS was at Rs 33.81 per share (December 2020). The stock’s price-to-earnings (P/E) ratio was 3.92.

welspun corp

The latest book value of the company is Rs 59.81 per share. At the current value, the price-to-book value of the company was 2.21. The dividend yield of the company was 7.93 percent.

Welspun Corp is one of the largest manufacturers of large diameter line pipe companies in the world. It offers a one-stop solution in line pipes with a capacity to manufacture longitudinal (LSAW), spiral (HSAW) and HFERW / HFI (ERW) pipes. The company also offers coating, bending and double jointing facilities.