Commodities
Welspun Corp Shares Surge 5% on $267 Million Aramco Contract
Shares of Welspun Corp jumped up to 5% on Monday after its associate company, East Pipes Integrated Company for Industry (EPIC), won a massive contract from Saudi Arabian Oil Co. (Aramco) worth over Rs 2,000 crore.
The contract is for the manufacturing and supply of steel pipes, with EPIC, a listed entity in Saudi Arabia, announcing on the Saudi Stock Exchange that it had signed the deal with Aramco.
The six-month contract will have its financial impact reflected from the fourth quarter of FY2026-27 through the first quarter of FY2027-28, according to Welspun Corp's exchange filing.