"Welspun Corp Shares Surge 2.3% Following ₹2,039 Crore Line Pipe Orders from India and US"

Welspun Corp Ltd has recently announced the acquisition of substantial line pipe orders in both India and the United States, amounting to a cumulative value of ₹2,039 crore. These orders are scheduled to be fulfilled during the financial year 2024-25, as detailed in a filing with the stock exchange.

Following this announcement, Welspun Corp's stock experienced a notable surge of 2.32% on the National Stock Exchange (NSE), reaching a trading value of ₹536.30 per share as of 11:32 am on Friday. Notably, the stock had achieved its 52-week high on the NSE at ₹623.90 in February 2024.

Additionally, the company disclosed earlier that the shareholding of Welspun Group Master Trust, along with other entities within the promoter group, has increased from 49.96% to 50.13%.

HBL