Welspun Corp Dips 1% Despite Associate Securing Rs 1,165-Crore Order
Shares of Welspun Corp Ltd fell 1% after hitting a day’s high of Rs 817.20 on 9th December. This occurred even as the company said its associate firm, East Pipes Integrated Company (EPIC) in Saudi Arabia, has signed a contract with the Saudi Water Authority. The agreement is valued at... The post Welspun Corp Dips 1% Despite Associate Securing Rs 1,165-Crore Order appeared first on Equitypandit.
Shares of Welspun Corp Ltd fell 1% after hitting a day’s high of Rs 817.20 on 9th December. This occurred even as the company said its associate firm, East Pipes Integrated Company (EPIC) in Saudi Arabia, has signed a contract with the Saudi Water Authority.
The agreement is valued at over 485 million SAR (about Rs 1,165 crore), including VAT. It covers the manufacturing and supply of steel pipes. The contract will run for six months, the company said in its filing.
EPIC, considered Saudi Arabia’s leading producer of Helical Submerged Arc Welded (HSAW) pipes, operates fully integrated facilities. It has a strong record of delivering large orders on time with high quality. Its performance and customer-focused approach have made it a preferred supplier in the Saudi market.
Welspun Corp expects the financial contribution from this order to reflect in its Q4 FY2025-26 and Q1 FY2026-27 results.
At 9:43 AM, shares of Welspun Corp were trading 0.33% lower at Rs 795.20 on NSE.
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The post Welspun Corp Dips 1% Despite Associate Securing Rs 1,165-Crore Order appeared first on Equitypandit.
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