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Welspun Corp share price climbed over 5% in early deals on the BSE on Friday, 25 September, to hit its 52-week high of ₹2,837.50, boosted by the company's announcement about its subsidiary winning its largest-ever order in the US.
Welspun Corp shares opened at ₹2,782 against their previous close of ₹2,694.60 and rose by 5.3% to a 52-week high of ₹2,837.50.
In an exchange filing on 25 September, Welspun Corp said its wholly owned subsidiary in the US, Welspun Tubular LLC, had secured the largest-ever order in its history, in terms of volume, length and value, for the supply of high-frequency induction welded (HFIW) pipes, valued at nearly $412.5 million (nearly ₹4,000 crore).
According to the company's exchange filing, the pipes will be manufactured at the company's newly upgraded HFIW mill, with enhanced capabilities, at Little Rock, USA. The order will be executed during FY28 and FY29.
The company said that with its order, its global order book stands at a record $4.7 billion (nearly ₹45,000 crore), the highest in its history.
"This order underscores the scale, quality and execution capability of the company's operations, and reinforces its long-term strategy of expanding global manufacturing capacity and deepening relationships with marquee international clients," said Welspun Corp.
Earlier on 20 September, Welspun Corp announced its associate company, East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), signed off with Saudi Arabian Oil Co. (Aramco) for the manufacturing and supply of steel pipes for a total value exceeding 771 million SAR (nearly ₹2,000 crore), including value-added tax. The contract duration is six months, and its financial impact will be reflected from Q4 FY27 through Q1 FY27-28.
The stock has delivered a solid multibagger return of over 235% over the last six months, while year-to-date, it is up more than 250%.
Welspun Corp stock dropped to its 52-week low of ₹709.75 on 2 February. In less than 8 months, it has surged almost 300% from its 52-week low to scale a fresh 52-week high.
On a monthly scale, the stock has been in the green since April this year. So far in September, it has gained 17%.
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