Welspun Corp Ltd. (Welcorp) Best 1

Welspun Corp Ltd., the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.

In the year 2008, Welspun Corp Ltd. (WCL) was ranked as the 2nd Largest (Large Diameter) Pipe Producer by Financial Times UK, and also been awarded ‘The Emerging Company of the Year’ by Economic Times. Since then the total Welded Pipe capacity rose to 2.55 MMTPA making us the largest player in the segment.

With a strong culture of ‘Engineering Excellence,’ WCL takes pride in manufacturing and supplying to some of the most critical pipelines in the world from its plants in India, Kingdom of Saudi Arabia and USA.

The Stock CMP as on 01-12-21  Rs. 166.20

The company has to its credentials supplies to world’s one of the deepest pipeline project (Independence Trail in Gulf of Mexico), one of the highest pipeline project (Peru LNG), one of the longest pipeline (Canada to US) and the project involving supplies of one of the heaviest pipe  (56 inch X 1.34inch in Persian Gulf). WCL has a list of  esteemed clientele which includes Chevron, DOW, Elpaso, Enterprise, Exxon Mobil, GAIL, Hunt Oil, Kinder Morgan, PTTEP, Qatar Petroleum, Reliance, Saudi Aramco, Shell, Statoil, TOTAL and TransCanada to name a few.

The Company is a leading manufacturer of large diameter pipes globally, offering a one-stop solution for all line pipe related requirements with its wide range of high-grade line pipes. The Longitudinal (LSAW), Spiral (HSAW) and ERW / HFIW pipes, produced at its advanced state-of-the-art global manufacturing facilities in India, USA and Saudi Arabia meet stringent specifications. The Company’s distinguished clients (Fortune 100 companies) comprise bellwethers of the oil and gas sector (Shell, Saudi Aramco, TOTAL, Chevron, Energy Transfer, South Oil Company, ExxonMobil, Kinder Morgan, TransCanada, Enbridge to name a few). The Company’s local presences are spread across India, USA and the Saudi Arabia.

The Company has recently set up a $ 100 million manufacturing facility in Little Rock, Arkansas, USA. The manufacturing facilities incorporate the hybrid JCO technology from Mannesmann Demag of Germany (SMS Meer). WGSRL has been the leader in quality, innovation and technology and enjoys distinction of supplying highest recognized X 80 grade and 56′ outer diameter line pipes in the country.

Some Major Projects :

1. Welspun Corporation has received orders worth ₹1,200 crore for supply of 1.29 lakh tones of large diameter pipes. Of these orders, about 69,000 tones would be executed from the company’s facility in Saudi including a single order of 45,000 tones from Saudi Aramco.
2. Adani Group, through its JV with Welspun Enterprises, has made its first strike in gas discovery in the Mumbai offshore basin. Adani Welspun Exploration Ltd (AWEL), a joint venture between Adani Group and Welspun Enterprises Limited, announced its first-ever gas discovery in the NELP-VII block MB-OSN-2005/2. AWEL holds 100 per cent participative interest (PI) and is the operator of this block.
3. Welspun Corp bagged a major offshore pipes supply contract for a project in Australia from Allseas Marine Contractors. The project is owned by a joint venture, which comprises ConocoPhillips Australia, SK E&S Australia and Santos Offshore.

company website : – https://www.welspuncorp.com/

 

Technical View (Welcorp) :

• On Monthly, Weekly and Daily chart, the stock has been trading with momentum triple pattern theory.
• After a strong correction in Corona Pandemic March 2020, the stock gradually recovered and now trading near 52 week high level.
• On Monthly chart, the volume is increasing since last 3 months with rise in stock price also.
• Monthly RSI indicator is trading at 58.89  level and making a rising bottom shape which is a bullish pattern.
• Based on the above technical points, can expect further upside move in the stock in upcoming days.

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