Welspun Corp Secures ₹2,400 Crore US Order for Gas Pipeline Project

1 Oct 2024 , 01:10 PM

Welspun Corp Ltd. announced on Tuesday, October 1, that it secured an order worth ₹2,400 Crore in the US for supplying coated HSAW pipes for a natural gas pipeline project. The project will be executed in the current financial year and FY 2026, as per the company’s statement.

This contract strengthens Welspun Corp’s credibility and reinforces its leading position in the US market, with further potential projects where the company is favorably placed for additional orders.

This is the second major order Welspun Corp has received within two days. On Monday, the company secured an order from the Middle East for coated LSAW pipes and bends.

After receiving Monday’s Middle East order, the total value of Welspun Corp’s pipeline orders in India and the US increased to ₹1,348 Crore. The orders will be executed across FY25 and FY26, according to the company’s update.

At the time of writing, shares of Welspun Corp Ltd is trading at ₹742.05 which is a 3.16% gain than the previous close. Welspun Corp Ltd stock has gained a total of 91% in the last one year, and almost 30% since the beginning of the year.