Introduction:
Leading steel company has signed a strategic MOU to establish a state-of-the-art LSAW Line Pipe manufacturing facility in Saudi Arabia. The 350,000 MT capacity plant will support oil, gas, hydrogen, and CCUS projects, commencing operations by mid-2026.
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Share price movement of Welspun Corp:
On January 15, 2025, Welspun Corp Limited opened at ₹749.50, up 2.71% from its previous close of ₹729.70. The stock reached a high of ₹775.15 (6.23%) and a low of ₹744.30. By 9:46 AM, it traded at ₹764.45, a 4.76% increase, with a market cap of ₹20,055.30 crore.
Welspun Corp Signs MOU with Saudi Aramco:
Welspun Corp Ltd. has entered into a strategic MOU with Saudi Aramco to establish a cutting-edge LSAW Line Pipe manufacturing facility in Saudi Arabia. The plant, with a capacity of 350,000 MT annually, will strengthen the Kingdom’s pipeline infrastructure.
Located in Dammam’s 3rd Industrial City, the facility will support Saudi Aramco’s oil, gas, hydrogen, and CCUS projects. Operations are expected to commence by mid-2026. Welspun, a global line pipe leader, has supplied Saudi Aramco for two decades, cementing its expertise in the sector.
This collaboration, announced at the Aramco IKTVA Forum 2025, underscores Welspun’s commitment to Saudi Arabia’s industrial growth. The greenfield project will enhance local capabilities, fostering technological advancements and job creation in line with the Kingdom’s economic diversification goals.
Recent news on Welspun Corp:
As of October 1, 2024, Welspun Corp secured a ₹2,400 crore US order for coated HSAW pipes. This followed a ₹1,348 crore Middle East order, reinforcing its global leadership in line pipe manufacturing and market growth.
Ace investor holding in Welspun Corp:
Akash Bhanshali
Prominent investor Akash Bhanshali holds a 1.46% stake in Welspun Corp Limited, owning 3,829,270 shares valued at ₹212.2 crore. His investment highlights confidence in the company’s growth and strategic initiatives in the global pipeline industry.
Stock performance of Welspun Corp for Period of 1 week, 6 months and 1 year:
Welspun Corp Limited witnessed a 7.43% decline over the past week but showcased resilience with a 15.5% return over six months. Over the past year, the company achieved a remarkable 35.2% growth, reflecting strong performance and long-term growth potential.
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Shareholding pattern of Welspun Corp:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 50.00% | 50.00% | 50.10% |
| FII | 11.70% | 10.50% | 10.70% |
| DII | 17.70% | 15.90% | 17.60% |
| Public | 20.70% | 23.60% | 21.60% |
About Welspun Corp:
Welspun Corp Limited (NSE: WELCORP) is a global leader in welded line pipes, providing solutions for critical oil and gas projects. With operations in India, Saudi Arabia, and the USA, it serves Fortune 100 clients, including Shell and Saudi Aramco.
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.
