India's Welspun Corp jumps on unit's 40-bln-rupees contract from Saudi Aramco

Welspun

22/05/2023 09:53

** Shares of Welspun Corp Ltd  WGSR.NS  rise as much as
3.04% to a five-month high of 245.35 rupees
    ** The steel products maker's Saudi Arabia unit East Pipes
Integrated Company for Industry (EPIC) signs contract with Saudi
Aramco  2222.SE  for supply of large diameter steel pipes
 urn:newsml:reuters.com:*:nFWN37J10N
    ** Total value of the contract approximately 40 billion
rupees ($489.12 million) - WGSR
    ** Financial impact of the contract to be reflected in third
quarter and fourth quarter of the current fiscal year
    ** Trading volume is 1.12 mln shares as of 2:06 p.m. IST,
twice the 30-day avg - Refinitiv data
    
    
     ($1 = 81.7800 Indian rupees)


($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))