HomeMarket NewsWelspun Corp shares extend 2026 gains to 110% after another ₹1,400 crore order win
All eight analysts who have coverage on Welspun Corp, have a “buy” rating on the stock. The stock though, trades above its consensus price target for all eight analysts that cover it.
Shares of Welspun Corp Ltd. gained as much as 3% on Tuesday, July 14, after the company bagged new large orders for oil & gas export projects.
In an exchange filing, Welspun Corp said that the large orders are for the supply of pipes and will be carried out through its India facility. The orders are cumulatively valued at ₹1,400 crore.
With this order win, Welspun Corp’s global consolidated order book as now risen to ₹23,650 crore or nearly $2.5 billion, providing strong visibility and continuing of operations across both India and US manufacturing assets.
This order book is scheduled for execution over financial year 2027 and 2028, and will give Welspun Corp sustained growth momentum over the next two years, the filing said.
“There’s a good story around this pipe company that, considering the kind of investment take place into oil and gas, because of the risk factor that has opened up because of the closure of the Strait of Hormuz, all countries are looking at investing in their oil and gas installations, and Welspun Corp plays a very important role,” Dipan Mehta of Elixir Equities told CNBC-TV18 on July 6.
He went on to add that the prospects are good for the company and despite the low profile that it keeps, it continues to deliver the revenue and profitability.
“Within India, also, we want to expand our oil and gas transportation through pipes, that entire infrastructure, and it’s a reasonably well-managed company, and I would say very attractive valuations as well,” he added.
All eight analysts who have coverage on Welspun Corp, have a “buy” rating on the stock.
Shares of Welspun Corp are trading 3.3% higher on Tuesday after the order win to ₹1,673.3. The stock is up 110% so far this year, making it the best year so far that the stock has had since 2023, during which it had gained 131%.
Shares of Welspun Corp have delivered positive annual returns in eight out of the last 10 years, starting 2015 and has delivered positive returns every single year since 2021.
