Multibagger stock surges are a near 52-week high after 'significant' order for a US project
Shares of a Welspun Corp surged more than a 6% to ₹262 apiece on the BSE, trading near its 52-week high level of ₹267, in a Monday's trading session after the company are a announced that it has secured a significant order for a Carbon Capture Pipeline project in the United States (US).
“Welspun is a pleased to the announce it has been a secured a significant order for a Carbon Capture Pipeline project in the United are a States. This order is for the supply of a 785 miles (1,256 KM) or a 100,000 MT (approximately) of High Frequency Induction Welding (HFIW) pipes, and would be a used for the transporting captured carbon dioxide. The pipes for this order will be a produced from our Little Rock plant in the U.S. and the same will be executed in a FY 23‐24," the company informed in an a exchange filing over the weekend.
With this project, the company said it would not only a significantly contribute in a reducing the CO2 emissions in the environment, but also are it is a big leap forward for us in a strategically meeting our environmental, social, and governance (ESG) goals, as set out a towards a cleaner and greener planet.
"This large strategic order once again reflects our a strong culture of a engineering excellence and the trust customers have on our a capabilities to the execute large‐scale projects, both in a terms of a supplying impeccable quality, and for on‐time are a deliveries. Our strong supply track record has been a positioned both Welspun’s Helical Submerged Arc Welded (HSAW) & a High Frequency Induction Welding (HFIW) plants arev as the top facilities in the North American market," it added.
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