Introduction:
Steel stock hits a 52-week high after securing orders worth ₹7,000 crores from USA Natural Gas Pipeline Projects in Q3FY25. These two significant orders for HSAW and HFIW pipes further strengthen the company’s market position in the USA oil and gas transmission sector.
Share Price movement of Welspun Corp:
As of today, December 9, 2024, Welspun Corp Ltd (NSE : WELLCORP) share price showed notable movement, opening at ₹812.90, reaching an intraday high of ₹824.45, and dipping to a low of ₹798.00. The stock currently trades at ₹803.10, reflecting a 1.70% increase from the previous close of ₹789.70.
Welspun Corp share price rise:
Welspun Corp Limited has announced the receipt of two large orders in the USA for HSAW and HFIW pipes for Natural Gas Pipeline Projects. This follows previous disclosures made on October 1, 2024, and November 4, 2024. The cumulative order value now exceeds ₹7,000 crores.
The execution of these orders is planned for FY25 and FY26. These wins reinforce Welspun’s dominant market position in the USA’s oil and gas transmission sector, further solidifying its leadership in the industry. The company’s strong foothold in the market continues to grow with this new business.
The outlook for the USA market remains positive, with Welspun well-positioned to seize more opportunities in the future. This announcement is in compliance with Regulation 30 of the Listing Regulations and the company’s fair disclosure procedures for unpublished price-sensitive information.
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Recent news About Welspun Corp:
On September 3, 2024, Welspun Corp announced a $100 million upgrade to its U.S. pipe manufacturing and coating facilities through Welspun Pipes Inc. This investment enhances their production of larger pipe sizes and strengthens their U.S. market presence.
Ace investor holding of Welspun Corp:
Ace investor Akash Bhanshali holds a significant stake in Welspun Corp Ltd., possessing 38,29,270 shares, which constitutes 1.46% of the company. The current market value of his holding is approximately ₹307.9 crores, with shares priced at ₹803.95 each.
Stock performance of Welspun Corp for Period of 1 week, 6 months and 1 year:
Welspun’s stock performance has shown a steady progression over different periods. In the last week, the stock gained 0.41%. Over the past six months, it achieved a substantial return of 46.4%, and remarkably, the return over the past year was slightly higher at 46.5%.
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Shareholding pattern of Welspun Corp:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 50.01 | 50.03 | 50.14 |
| FII | 11.65 | 10.51 | 10.7 |
| DII | 17.65 | 15.85 | 17.57 |
| Retail & others | 20.69 | 23.59 | 21.58 |
About Welspun Corp:
Welspun Corp Ltd. is a leading global manufacturer and supplier of pipes and related products, primarily serving the oil, gas, and water sectors. It excels in providing comprehensive pipeline solutions, ensuring robust growth and innovation in its field.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
