On Thursday, November 16, 2023, Welspun Corp reached a new peak on the BSE in intraday deals after the company posted strong performance in the second quarter of the current fiscal year and on the back of future growth plans. The shares of Welspun Corp hit Rs 549.80 on the BSE in intraday. When the market opened on Thursday morning the stock of Welspun Corp was trading at Rs 548 around 5 percent higher on health volumes of around 87,000 shares against the two-week average volume of around 1.33 lakh shares. At 10 am, the S&P BSE Sensex was trading 0.1 percent which was around 55 points at 65,735. If you are also scrambling to the web regarding the same, the following sections are waiting for you. Stick with this page and go through it till the end.
If we talk about Welspun Corp’s performance for the November month only, the stock has risen up to 29 percent against a 3 percent surge on the Sensex. Currently, the stock of Welspun Corp has been on a nine-month winning streak since March this year. The stock has gained as much as 198 percent during this period. As mentioned, the company posted a strong performance in the second quarter that ended in September, helping the company to reach a new peak, Welspun Corp posted a consolidated net profit of Rs 386.59 crore against a net loss of Rs 63.18 crore in the corresponding period in the previous year. Shift to the next section and read more details.
On November 10, 2023, Welspun Corp said its associate company EPIC (East Pipes Integrated Company for Industry) inked a contract with Saudi Aramco for Rs 1000 crore to manufacture and supply large-diameter steel pipes. Reportedly, the total value of the order surpasses Saudi Riyal 440 million including value-added tax. Take a look below and read more details.
Recently, the company said in an exchange filing that it entered into an arrangement for the supply of renewable energy under a subsidiary of Welspun New Energy, Group Captive Structure with Mounting Renewable Power Limited (MRPL) as a part of its ESG journey. Following the due evaluation of various proposals proposed the board members of the company approved an investment not exceeding Rs 44.25 crore holding around 21.54 percent equity share capital in MRPL and the remaining around 51 percent and 27.46 percent shareholding in MRPL will be with Welspun New Energy and another group captive power consumer viz. Stay tuned to this website.