From mint · Sharmila Bhadoria · · 1m
Welspun Corp wins ₹5,500 cr US gas pipeline order
Welspun Corp's ₹5,500 crore US gas pipeline order could boost stock but shares fell 1.75%.
In brief
Welspun Corp's ₹5,500 crore US gas pipeline order could boost stock but shares fell 1.75%. Welspun Corp won a ₹5,500 crore US gas pipeline order for a Permian Natural gas project, lifting its global order book to USD 5.25 billion. Originally reported by mint.
Welspun Corp wins ₹5,500 cr US gas pipeline order
Welspun Corp shares fell 1.75% to ₹2,391.80 on Friday despite winning a ₹5,500-crore US gas pipeline order.
“The pipeline will serve an Anchor customer, a data centre complex of one of the A-Grade Hyper scalers, the very top tier of global digital infrastructure.”
Order for Permian Natural gas pipeline
The company will supply coated line pipes for a Permian Natural gas pipeline project.
Global order book reaches record
The contract lifts Welspun's global order book to a record USD 5.25 billion.
Share price trend
The stock delivered 199.26% year to date return and 1647% return in five years.
Investor outlook
Siddharth Maurya says the financial impact depends on execution timing and cost management.
“Nevertheless, the financial impact of the contract on Welspun Corp’s bottom line would depend on the execution timings, as well as the margins and cost management that would be involved.”
What it means
Welspun Corp won a ₹5,500 crore US gas pipeline order for a Permian Natural gas project, lifting its global order book to USD 5.25 billion.
