The Welspun Corporation wins the order of Rs.611 cr from Latin America for exporting Oil pipes. Longitudinal double sub merge Arc welding pipes project is going to execute in FY 2025.
WELSPUN CORP Market price is moving Ascending trend line and market has rebounded from the higher low area of the pattern
Already this company have Rs.2100 cr project in hands both in the India and the US. Sintex company is recently acquired by Welspun and in the next five years Plastic manufacturing tanks business will see a excellent growth from this company.
Shares of Welspun Corp saw a notable rise of over 4 percent, reaching Rs 586 in the morning trading session on April 24. This surge followed the company’s announcement of securing a substantial Rs 611-crore letter of award for the export of line pipes.
The newly acquired order entails the supply of LSAW (longitudinal double submerge arc welding) pipes to Latin America, with execution scheduled for FY25, as stated in a regulatory filing by Welspun.
This significant contract comes shortly after another substantial achievement. On April 22, the company disclosed securing orders totaling Rs 872 crore within the last month for multiple-line pipe projects spanning India and the US. These projects are also scheduled for execution in FY25.
Among these recent orders, one involves supplying coated LSAW pipes and bends for a significant oil transportation project in the Middle East, specially designed for extreme sour service applications.
Welspun Corp’s strategic moves to strengthen its portfolio have been evident in recent endeavors. In March 2023, the company acquired Sintex, a prominent plastic water tank manufacturer, with ambitious growth plans outlined for the next four to five years.
Puravankara: Puravankara Jumps 5% on Securing Rs 2,000-Crore Pali Hill Redevelopment Project
The Puranvankara Bangalore based realty company bags worth of Rs.2000 cr order in Mumbai Pali Hill redevelopment project. Totally 4.10 lakhs Sqft area and 2.15 Lakhs for sale worth of Rs.2000 cr.
PURAVANKARA Market Price has broken box pattern in upside
This company already did Rs.5914 cr sale growth this year annually and Q4 only made Rs.1947Cr sales volume.
On April 24, shares of real estate firm Puravankara surged by 5 percent, reaching the upper circuit limit at Rs 377. This remarkable increase followed the company’s selection as the preferred developer for the redevelopment of a residential housing society located in Mumbai’s prestigious Pali Hill area.
The redevelopment project is expected to yield a cumulative development potential of 4.10 lakh square feet carpet area, out of which approximately 2.15 lakh square feet will be available for sale. According to Puravankara’s regulatory filing, this translates to a potential gross development value (GDV) exceeding Rs 2,000 crore.
Puravankara is actively engaged in discussions for the redevelopment of several prestigious housing societies in Mumbai. Abhishek Kapoor, the executive director and chief executive officer of the Bengaluru-based real estate developer, previously stated that the company aims to conclude FY24 by delivering 2,000 units, with a development potential surpassing 2 million square feet (msf) across Bengaluru, Pune, Chennai, and Mumbai.
In addition to its ambitious development plans, Puravankara also reported its best-ever annual sales performance in FY24. The annual sales volume for the fiscal year recorded a remarkable 90 percent growth compared to the previous year, amounting to Rs 5,914 crore. For the fourth quarter, sales surged by 93 percent year-on-year to Rs 1,947 crore.
Ashish Puravankara, Managing Director of Puravankara, emphasized the company’s focus on replenishing its inventory through new land acquisitions, reflecting its optimistic outlook for future projects.
The robust quarterly and full-year updates provided by Puravankara earlier in the month have bolstered investor confidence, paving the way for strong quarterly earnings. This optimism is evident in the significant upward movement of the stock, which has surged by over 75 percent in just the past month.
TATAELXSI: Tata Elxsi Drops 5% on Weak Q3 Performance
The Tata Elxsi company reported decline in the Revenue and Net profit for Jan- march month quarter. Revenue came at Rs.905.9 cr from Rs.914.23 cr in the previous quarter, net profit came at rs.196.93 cr from Rs.206.40 cr in the previous quarter. EBITA margin came at 25.8% Q1 versus 26.8% in the previous quarter.
TATA ELXSI Market Price has broken Ascending channel in downside
On April 24, Tata Elxsi’s shares experienced a significant decline of 5 percent in early trading following the company’s report of a decrease in both net profit and revenue for the January-March quarter.
The company’s net profit for the March quarter registered a decline of 4.6 percent quarter-on-quarter, amounting to Rs 196.93 crore compared to Rs 206.4 crore in the October-December period of FY24. Additionally, the bottom line was 2.32 percent lower than the Rs 201.5 crore recorded in the same quarter of the previous year.
Total revenue from operations stood at Rs 905.9 crore in Q4 of FY24, marking a decrease of 1 percent from Rs 914.23 crore reported in the previous quarter. However, it represented an increase from Rs 837.91 crore reported in the corresponding quarter of the previous year.
Despite the decline in revenue, the earnings before interest and taxes (EBIT) margin expanded to 25.8 percent in Q4, compared to 26.8 percent in the preceding quarter. This expansion was attributed to operational efficiencies within the company.
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