Welspun bags pipe orders worth Rs1,182 crore

Welspun bags pipe orders worth Rs1,182 crore

Mumbai: Welspun Corp on Thursday said it has bagged pipe orders worth Rs1,182 crore, the majority of which are from international clients.

The orders are likely to be executed over a period of one year, Welspun Corp said in a filing to the Bombay Stock Exchange (BSE).

“We are visualizing a good traction and signs of improved demand. The company shall continue to open newer avenues and deliver superior customer value and sustained leadership position in the world markets," Welspun Corp chairman B. K. Goenka said.

With the addition of theses contracts, the current order book of the company stands at Rs6,153 crore.

Following the announcement, the company’s shares shot up by 3.13% to Rs204.40 on the BSE.