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Welspun Corp gains on buzz of plan to set-up industrial pipes plant in Canada

20 Oct 2014 Evaluate

Welspun Corp is currently trading at Rs 78.60, up by 0.30 points or 0.38% from its previous closing of Rs. 78.30 on the BSE.

The scrip opened at Rs. 81.40 and has touched a high and low of Rs. 81.85 and Rs. 78.10 respectively. So far 14538 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs. 107.70 on 10-Jun-2014 and a 52 week low of Rs. 32.35 on 18-Oct-2013.

Last one week high and low of the scrip stood at Rs. 83.70 and Rs. 77.55 respectively. The current market cap of the company is Rs. 2057.57 crore.

The promoters holding in the company stood at 38.43% while Institutions and Non-Institutions held 15.42% and 37.39% respectively.

Welspun Corp is reportedly planning to set-up industrial pipes plant in Canada’s largest and richest province British Columbia. The investment is likely to be upwards of $100 million for setting up a pipe plant supported by coating and double jointing facility primarily targeting oil & gas transportation in the Canadian region.

Welspun Corp, which is the largest pipes maker in the country, had reported sales turnover of Rs 1,146.67 crore in the June quarter while its net profit dropped marginally to Rs 105 crore from Rs 109.5 crore a year ago.

Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.

Welspun Corp Share Price

1077.35 0.20 (0.02%)
17-Apr-2026 16:59 View Price Chart
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