Welspun Corp share price zoomed to its all-time high in the trade on October 1 after the company bagged a major order in the United States worth Rs 2,400 crore. The stock of the company zoomed to its new 52-week and all time high of Rs 794.75 on the NSE. The stock gained 3.71 percent from its previous close.
The sharp uptick in the stock price was witnessed after the company informed the exchanges on bagging "significantly large order in the USA valued at Rs 2,400 Cr (approx.), for supply of Coated HSAW Pipes for a Natural gas Pipeline project".
The execution of this order will be during FY25 and FY26, the company said in a statement.
"This win further reinforces our credibility and demonstrate our leading position in the USA market. Our outlook for the USA market remains extremely positive and there are few more projects, where we have participated and are favourably placed for orders," it added.
Last month, the company board approved investment by its subsidiary for upgradation of pipes manufacturing.
Welspun Corp shares have gained 92.06 percent in the last one year. In the last three years, the counter zoomed to deliver multibagger returns of 428.96 percent, thus outperforming the benchmark Sensex, which rose 43.70 percent.
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