Welspun Gujarat Stahl Rohren Ltd. (WGSRL), the 2nd largest line pipe Company in the World won orders worth Rs 3000 Crores from India and overseas. With these orders, the current order book position of the company stands at Rs 7700 Crore including the orders executed during the 1st quarter, FY09. The overseas orders are primarily from diversified markets including the American continents.
Speaking on the occasion, Mr. B K Goenka, Vice Chairman and Managing Director of Welspun said, "These orders in the first quarter have marked a strong beginning and reinstates Welspun's credibility as a Company which strives for Engineering Excellence. I am confident that the momentum of such orders will continue and pave our way to be the most respected line pipe Company in the World."
It may be noted that Welspun recently announced commissioning of its state-of-the-art Plate mill with a capacity of 1.5 million ton. Plates produced (of up to 4.5 meters wide, X70 grade) from this facility will be primarily used to produce the LSAW pipes and other high-end applications.
The Stock closed the day at Rs.304.05, down by Rs.7.75 or 2.49%. The stock hit an intraday high of Rs.315 and low of Rs.300.
The total traded quantity was 170355 compared to 2 week average of 223937.
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