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Saturday, Jan 26, 2002

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Welspun Stahl Rohren: An order boost

BL Research Bureau

AN overseas order bagged by Welspun Gujarat Stahl Rohren is likely to bolster trading interest in the company's stock. The company has bagged a Rs 62-crore order entailing supply of coated spiral pipes to an EPC contractor working for the Barka Water Transmission project of the Ministry of Housing, Electricity and Water in Oman and other similar projects. For a company which recorded revenues of Rs 75.80 crore in the second quarter of 2001-02, this order can provide some stability to the revenue stream and also serve as a good reference point to compete for global tenders in future. The stock may march up slowly from the closing price of Rs 9.50, up by Rs 0.60 on Monday's trading. The stock was trading in the Rs 9-12 range in December.

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