Welspun Corp gets export order to supply pipes; share price trades lower

The contract is for supply of approximately 61,000 MT bare pipes and bends which will be used for offshore production and transport of gas.

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Welspun Corp share price was trading marginally lower in early trade on October 19 despite the company receiving an export contract for supply of Pipes and Bends. The company has been awarded a very prestigious contract for the export of LSAW Pipes and Bends to the Middle East, which will be executed from its facilities in Anjar, India.

The contract is for supply of approximately 61,000 MT bare pipes and bends which will be used for offshore production and transport of gas.

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Since August, the company cumulatively received total orders of approximately 191,000 MT of line pipes, to be executed from India and USA facilities, company said.

The share touched a 52-week high of Rs 457.55 and a 52-week low of Rs 177.85 on 17 October, 2023 and 27 February, 2023, respectively.

Currently, the stock is trading 2.03 percent below its 52-week high and 152.04 percent above its 52-week low.