Welspun Corp has allotted 65,000 equity shares of Rs. 5 each fully paid-up upon exercise of Employee Stock Option. The said equity shares shall rank pari-passu in all respect with the existing equity shares of the Company.

Post this allotment, the paid up equity share capital of the Company stand increased from Rs.1,304,421,975/- divided in to 260,884,395 equity shares of Rs. 5 each to Rs.1,304,746,975/- divided in to 260,949,395 equity shares of Rs. 5 each.

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Welspun Corp has received multiple orders of approximately 93 KMT valuing close to Rs 777 crore. This includes a single order of approximately 50 KMT received from a large client in Middle East which would be executed from our facility in Saudi Arabia. Most of the other orders received will be executed from our facilities in India for domestic market.

With these orders, the Company's order book stands at 586 KMT valued at approximately Rs 5,300 crore, after considering execution up to February 2021.

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Welspun Corp Ltd is up for a fifth straight session today. The stock is quoting at Rs 126.8, up 1.08% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.39% on the day, quoting at 14953.95. The Sensex is at 50893.05, up 0.55%. Welspun Corp Ltd has slipped around 4.7% in last one month.

Meanwhile, Nifty Metal index of which Welspun Corp Ltd is a constituent, has slipped around 0.74% in last one month and is currently quoting at 3409.55, up 1.04% on the day. The volume in the stock stood at 7.12 lakh shares today, compared to the daily average of 11.72 lakh shares in last one month.

The PE of the stock is 3.71 based on TTM earnings ending December 20.

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The Board of Welspun Corp at its meeting held on 28 January 2021 has approved the acquisition of Welspun Metallics and Welspun DI Pipes for its foray into ductile iron pipe segment.

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