Shares of Welspun Corp Ltd stock rallied more than 4% to reach a new high of Rs 824.45 on 9  December after the company announced that they had secured two new orders each for supplying HSAW-coated pipes for Natural Gas Pipeline Projects in the US. 

These new orders were bagged by the company’s US plant, taking the total value of orders received by the US plant till Q3 FY25 to over Rs 7,000 crore. 

The execution of these orders is slated for FY25 and FY26. “These achievements reinforce our dominant market share in the US oil and gas transmission sector and reflect our strong position in the industry,” the company said in a regulatory filing. “With an extremely positive outlook for the US market, Welspun is well-positioned to capitalise on future opportunities,” it added.

The business received another significant order in the US in October, this time for Rs 2,400 crore.

The manufacturer of steel, sponge iron, and pig iron posted a net profit of Rs 287 crore for the September quarter, which was 26.3% less than the Rs 386.57 crore it declared for the same period the previous year. Reduced revenue and outside market difficulties were blamed for the profit decline.

The July-September quarter’s consolidated revenue for Welspun was Rs 3,364 crore, down 18.6% from Rs 4,059.45 crore in the same period of the previous fiscal year.

At 11:35 am, the shares of Welspun Corp were trading 1.69% higher at Rs 803.05 on NSE. 

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