Welspun Corp shares up nearly 13% on Rs 6,400-crore order

Shares of Welspun Corp rose as much as 12.96% in the morning trade on Friday after the company updated the stock exchanges about a new order on Thursday post market hours. 

 “Welspun Corp has won an order for supply of 2.16 lakh MTs line pipes for an onshore project in Americas. With the addition of this order, current order book of the company has crossed 10.4 lakh MTs worth at Rs 6,400 crore,” said the company in a filing to BSE.

At 1235 hours, the share price of Welspun Corp was lower than the day's high, and trading at Rs 105.95, up 8.56% or Rs 8.35 per piece on the BSE. The scrip opened at Rs 103 and had touched a high Rs 110.25 in morning trade. At the same time, Sensex was up 0.27% or 70.85 points, at 26,029.48 points.  

The current market capitalisation of the company is at Rs 2,784.40 crore. 

The promoters' holding in the company stood at 40.85% as of September 2015, while institutions and non-institutions shareholders held 13.83% and 36.57% respectively.

Welspun Corp has business dealings in line pipes, energy, retail and home textiles. It enjoys a global leadership in line pipes and energy business.