Espresso shot of the day – Welspun Corp Ltd up by 12.64 percent

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Espresso shot of the day – Welspun Corp Ltd up by 12.64 percent

September 30, 2021
Espresso shot of the day – Welspun Corp Ltd up by 12.64 percent

WELSPUN CORP LTD. 144.40 (+12.64 %) BSE – INE191B01025 | 30TH SEPTEMBER 2021


Welspun Corp Ltd.’s parent company has its Corporate Office in Mumbai and its Registered Office at Anjar, Gujarat. The company owns pipe mills in Dahej, Anjar and Mandya. Dahej and Anjar locations host coating facilities as well. The company’s Anjar complex also hosts Hot Induction Bending (HIB) units and Plate cum Coil Rolling Mill (PCMD).

Recent Drivers

  • On Sept 20, 2021, Welspun Corp Ltd. received multiple orders of approximately 120 KMT (valuing close to Rs 1,400 crores), most of which will be executed from its Indian facilities. This includes a significant and very prestigious export order for a deep offshore pipeline project (of approximately 59 KMT) in the Gulf of Mexico, USA.
  • On Aug 31, 2021, Welspun said it has raised Rs 252.8 crores by issuing non-convertible debentures.
  • On Aug 17, 2021, Welspun reported quarterly net profit at Rs 97.47 crores in June 2021.
  • On Aug 17, 2021, Welspun reported net sales at Rs 1,298.94 crores in June 2021.
  • On July 6, 2021, Welspun said it has decided to solely focus on pipe and plates business and all its other units will be demerged into a separate holding company, Welspun Enterprises Ltd.
(Sources: Moneycontrol, Business Standard, The Economic Times)


Technical Force*

  • S&P BSE 500 month till date gain up by 3.29%
  • Spurt in volume by more than 19.3 times compared to previous vol. | 3 months avg. volume: 2,86,668
  • Quantity traded: 25,06,899 | Deliverable quantity: 15,98,296 (63.76%)
  • Stock price has jumped more than 45% from one-year-low level: 99 (Nov 20, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 165 | 52-week-low: 99

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

 404.90

319.30

226.20

140.60

47.50

-

-

    -

Fibonacci Pivot

319.30

251.04

208.86

181.70

140.60

99.50

72.34

30.16

8.55


Today’s Close

144.40

SMA

BSE

10 DAY

127.47

20 DAY

124.14

50 DAY

127.34

200 DAY

135.65


Some Key Ratios (Source: BSE)

Market Cap: 3,768.11 crores

PE: 7.48

OPM%: 15.6

ROE%: 19.7

Promoters holding%: 50.01

Prev. Close: 128.2

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.