US expansion and Perma-Pipe ventures in Jordan and India approved
WELCORP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.6 pts less than Nifty Smallcap 250 and 1.9 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved up to USD 115 million for 225,000 tonnes a year of pipe capacity in Arkansas, lifting US capacity to 575,000 tonnes by March 2028. It approved a 50:50 Jordan pipe and coating venture with Perma-Pipe for up to USD 125 million and a 49:51 India epoxy coating venture for up to Rs 110 crore. WCL bought 51% more of WCPGL for Rs 67.66 crore; group holding rose to 73.9%. September-quarter net profit was Rs 495.09 crore.
Positive long term: capacity and reach rise, but project risk grows. US expansion uses internal accruals; Perma-Pipe shares Jordan and India costs.