Shares of Welspun Corp Ltd rallied 6% on 22 April after the company announced securing Orders worth Rs 872 crore.

In its regulatory filing on 22 March, the company secured multiple line pipe orders in both India and the USA. One of the orders is to supply concrete-coated LSAW pipes and bends for a critical oil transportation project in the Middle East. The line pipes shall be used for extreme sour service applications.

The filing added, “Welspun Corp has been executing these types of extremely challenging projects, which reinforces our position as one of the top line pipe manufacturers of the world.”

Earlier on 1 March, the company said that its step-down subsidiary, Sintex Advance Plastics, is planning to set up a manufacturing facility for plastic pipes and water tanks in Madhya Pradesh for a total consideration of Rs 400 crore.

Earlier in 2024, the company’s associate company, East Pipes Integrated Company, received orders worth Rs 3,000 crore in Saudi Arabia. The company added, “Associate company East Pipes Integrated Company for Industry in the Kingdom of Saudi Arabia (KSA) has received cumulative orders exceeding (Saudi Riyal) SAR 1.32 billion (Rs 3,000 crore).”

At 3:30 pm, the shares of Welspun Corp closed 4.22% higher at Rs 551 on NSE.