Shares of Welspun Corp Ltd. surged by 2.5% to reach an all-time high of Rs 794.75 on 1st October after the company announced that it had secured an order in the US worth Rs 2,400 crore for the supply of coated HSAW pipes for a natural gas pipeline project.

The company stated that the order will be executed within the current financial year and into the financial year 2026.

In a stock exchange filing, the company expressed that this win strengthens its credibility and confirms its leading position in the USA market. They also remain optimistic about the USA market, mentioning several additional projects where they are well-positioned to secure further orders.

This is the second order Welspun Corp has received in two days. On Monday, the company announced an order from the Middle East to supply coated LSAW pipes and bends.

After Monday’s order, the company stated that the total value of its line pipe orders in India and the US had reached Rs 1,348 crore, with execution planned for FY25 and FY26.

The stock has surged by almost 32.5% so far in 2024. The company’s market capitalisation is around Rs 19,836 crore.

At 10:33 AM, the shares of Welspun Corp were trading 1.38% lower at Rs 755.70 on NSE.

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