Welspun Corp surges 6.96% to Rs 89.65 on BSE


New Delhi: On Thursday Welspun Corp rush forward 6.96% to Rs 89.65 IST on BSE subsequent to the corporation declared that it has won an order from American midstream chief. The declaration was made throughout market hours at present. For now, the BSE Sensex was decreased 63.35 points, or 0.29%, to 27,834.43. The increase in price was connected with high volumes on the counter. On BSE, so far 4.45 lakh shares were buy and sell in the counter, evaluate with an average volume of 1.66 lakh shares in the precedent one quarter. The stock hit an increase of Rs 90.90 and a low of Rs 83.80 so far throughout the day. The stock had hit a 52-week high of Rs 153.60 on 5 August 2015. The stock had hit a 52-week low of Rs 69.30 on 5 June 2016. The stock had outperformed the market over the precedent one month till 20 July 2016, advancing 8.2% in comparison with Sensex's 3.9% increase.

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The scrip had, though beneath performed the market in precedent one quarter, dropping 19.69% as against Sensex's 8.02% rise. The mid-cap company has an equity capital of Rs 132.61 crore. Face value per share is Rs 5. Welspun Corp declared that the corporation has go into into a definitive accord with an American midstream major to supply over 274 kilometers or 1.84 lakh metric tonnes of heavy wall, large diameter, 18 meters length, longitudinal saw line-pipe for a prestigious Gas Project in America. With the addition of the order, current order book of the company has crossed 9.58 lakh metric tonnes worth Rs 5500 crore. Welspun Corp's merge net profit fell 84% to Rs 23.05 crore on 19.2% decrease in net sales to Rs 1792.78 crore in Q4 March 2016 over Q4 March 2015. Welspun Corp is a one-stop repair provider contribution complete pipe solutions.

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