Welspun Corp hits 5% upper circuit on receiving orders worth Rs. 1,400 crore.

Shares of Welspun Corp hit an upper circuit limit of 5 per cent at Rs. 113.70 apiece on the BSE recently, a day after the company announced it has received multiple orders of approximately 147 kilometre-tonne (KMT) valuing close to Rs.1,400 crore.

"These orders would be executed from India and will help boost the mill utilisation for our India facilities. The inflow of orders is not only from the domestic Oil & Gas (O&G) and Water business but also from exports. This indicates our strong positioning in all the markets," Welspun Corp said in the press release.

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

At 09:53 AM, the stock was frozen at the upper circuit band on the BSE against Tuesday's close of Rs. 108.30. In comparison, the benchmark S&P BSE Sensex was trading 0.22 per cent lower at 37,891 levels.

Welspun Corp had hit a 52-week high of Rs. 233.70 on February 11, 2020, while its 52-week low level stands at Rs. 55, hit on May 22, 2020.

BS