Welspun Corp rose 2.81% to Rs 151.90 after the company was granted license to manufacture SAWH pipes by the American Petroleum Institute, USA.
On a year-to-date (YTD) basis, the stock has added 47.02% while the benchmark Sensex has gained 9.22% during the same period.
Welspun Corp said that the SAWH pipes would be manufactured as per API Specification 5L & the company would apply API monogram on the pipes from its Jamunia, Raisen, Madhya Pradesh facility with effect from 26 May 2021.
The facility is also certified for its Quality Management System as per API Specification Q1 compliance. This would help the company to cater to critical needs of the Indian Oil & Gas market by supplying coated API pipes as this facility also has a modern 3LPE/DFBE/FBE coating facility attached to the pipe mill.
We intend to facilitate Oil & Gas pipeline network development and reach the remote corners of our great country towards East, North east and South India from this modern set up, the company said in a regulatory filing made after market hours on Friday (4 June 2021).
Welspun Corp offers pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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