{"id":130467,"date":"2024-08-07T13:11:54","date_gmt":"2024-08-07T07:41:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=130467"},"modified":"2024-08-07T14:50:41","modified_gmt":"2024-08-07T09:20:41","slug":"stock-jumps-3-after-signing-contracts-worth-525-cr-for-steel-pipes","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-3-after-signing-contracts-worth-525-cr-for-steel-pipes\/","title":{"rendered":"Stock jumps 3% after signing contracts worth \u20b9 525 Cr for steel pipes"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2192177199\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of the pipeline solution provider gained up to 3.4 percent after its associate company signed multi-contract for manufacturing, supply of steel pipes, and coating worth Rs 525 crore.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-775636486\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 17,002.66 crore, the shares of <strong>Welspun Corp Limited<\/strong> were trading at Rs 651.25 per share, increasing around 3.06 percent compared to the previous closing price of Rs 631.90 apiece.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for rise:-&nbsp;<\/strong><\/h2><p>The shares of the company have seen positive movement after Welspun Corp Limited&#8217;s associate company, East Pipes Integrated Company for Industry (EPIC), signed a multi-contract with different EPC contractors for manufacturing, supplying steel pipes, and coating worth Rs 525 crore.&nbsp;<\/p><p>EPIC is Saudi Arabia&#8217;s main maker of HSAW pipes. The company&#8217;s fully integrated manufacturing facilities and customer-centric approach make it a top supplier in the Saudi market, supporting the Kingdom&#8217;s strategic objectives under Vision 2030.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-262775495\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financial Performance:-&nbsp;<\/strong><\/h2><p>Examining the company\u2019s financial performance, revenue magnified by 10 percent from Rs 4,070 crore in Q4FY23 to Rs 4,461 crore in Q4FY24, but during the same period, net profit magnified multifold times by 20 percent from Rs 240 crore to Rs 287 crore.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Order Book &amp; footprint:-&nbsp;<\/strong><\/h2><p>The company has a healthy order book of 328,000 MT resulting in its production capacity booked for the next 3 quarters WCL is now further enhancing its Anjar capacity from 500,000 MT to 600,000 MT without any additional capex.&nbsp;<\/p><p>WCL is one of the world&#8217;s major producers of large-diameter pipes, with a worldwide footprint spanning six continents and fifty nations. It provides crucial specialized solutions for both onshore and offshore applications.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Company profile:-&nbsp;<\/strong><\/h2><p>Welspun Corporation Limited manufactures steel and plastic goods. The company produces and coats high-quality submerged arc-welded pipes, hot-rolled steel plates, and coils. It provides services for welded line pipes, ductile iron pipes, stainless steel pipes, and others.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by:- Abhishek Singh<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-2527760998\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of the pipeline solution provider gained up to 3.4 percent after its associate company signed multi-contract for manufacturing, supply of steel pipes, and coating worth Rs 525 crore.&nbsp; With a market capitalization of Rs 17,002.66 crore, the shares of Welspun Corp Limited were trading at Rs 651.25 per share, increasing around 3.06 percent [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":40460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31,13525],"tags":[],"class_list":["post-130467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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