Welspun Corp has seen its shares vaciliate significantly in the new day of trade. On Monday, February 17, the company shares lost and gained large volumes of its value in no time.
Welspun Shares Seesaw Despite Major Orders
Welspun Corp recently bagged a major deal in the United States. On Monday, the company announced new orders worth Rs 3,000 crore for the supply of pipes to clients in America.
The orders include HSAW pipes and additional orders for HFIW pipes for the supply of coated pipes.
These pipes will used in lucrative natural gas pipeline projects.
However, fears of US President Donald Trump's tariffs and the impact that they might have on such deals appear to have played against the company at the equity markets as the shares dropped, carving out a major part of the company stock price. | Representative Image
Rs 18,000 crore Consoldiated Order
These new orders have taken the consolidated order book to Rs 18,000 crore.
In its statement, in an exchange filing, the company said, "These wins continue to reinforce our leading and dominant market share in the USA O&G transmission space. Our outlook for the USA market continues to remain positive for the next few years and Welspun is fully poised to benefit from more opportunities in the time to come. "
However, fears of US President Donald Trump's tariffs and the impact that they might have on such deals appear to have played against the company at the equity markets as the shares dropped, carving out a major part of the company stock price.
Welspun Shares
The company's journey in the equity markets today has been a story of marked ups and downs. While it started flat, opening at the same price as its had closed on Friday, the value stock rose in value, hitting the mark of Rs 760.00 per share.
The share price quickly dipped in value, hitting the low of Rs 716.75, before recovering some momentum, only to lose the said momentum to trade in red with cuts.
At the time of writing, the company shares dipped to 729.35, this came to pass after a decline of Rs 8.15 or 1.11 per cent.
On its part, Welspun has tried to allay any confusion and asserted that these deals will not be affected by Donald Trump's tariffs.
