Home / Business and Economy / Welspun Corp's Record Order Propels Stock to New Peak
Welspun Corp's Record Order Propels Stock to New Peak
21 Aug
Summary
- Welspun Corp secured its largest order worth $1.8 billion.
- The order is for pipe supply from its US manufacturing facility.
- The company's global order book now stands at a record $4.4 billion.
Welspun Corp's stock price reached a new peak of ₹2,192.70, marking a significant 9% increase on Friday. This surge followed the announcement of a substantial $1.8 billion (₹17,200 crore) order for pipe supplies from its US manufacturing facility.
This order, secured on Thursday, August 20, 2016, represents the company's largest single order to date. It is slated for execution between FY28 and FY29. The deal propels Welspun Corp's global order book to an unprecedented $4.4 billion (₹42,100 crore).
The substantial influx of orders significantly strengthens the company's future revenue prospects. It also serves as a strong endorsement of Welspun's operational scale, quality, and execution prowess, highlighting the trust major global energy firms place in the company for complex infrastructure projects.
Brokerage firms like ICICI Securities view the order as a major positive, anticipating improved utilization of the US facility and enhanced profitability. JM Financial Institutional Securities maintains a positive outlook due to the strong order book and financial health. Welspun Corp has reiterated its FY27 revenue guidance of ₹20,000 crore and EBITDA of ₹2,850 crore.
