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Business Upturn
6 days ago
- Business
- Business Upturn
Welspun Tubular to Invest $150 Million in New LSAW Pipe Mill in Little Rock, Arkansas
LITTLE ROCK, Ark., Aug. 11, 2025 (GLOBE NEWSWIRE) — Welspun Tubular LLC announced a major expansion project with an investment of $150 million to establish a new Longitudinally Submerged Arc Welded (LSAW) line pipe mill and coating facility at its existing site in Little Rock, Arkansas. This expansion is expected to create 300 new jobs, significantly boosting the regional economy. A formal announcement ceremony was held at the Arkansas State Capitol and was attended by company executives, including Welspun Corp Ltd. Managing Director and CEO Mr. Vipul Mathur, along with state officials and local community leaders. 'We began our journey in Little Rock in 2007, and over the years, our partnership with the state of Arkansas has only grown stronger. Today, we are proud to take a significant step forward with the expansion of our Little Rock facility to include a state-of-the-art LSAW line pipe mill and coating facility.' said B.K. Goenka, Chairman of Welspun World. 'This investment is not only creating new jobs—it is a commitment to the Make in America vision by strengthening domestic manufacturing and reducing reliance on imports. With this expansion, Welspun will be the only facility in the United States capable of manufacturing line pipes ranging from 6 inches to 56 inches, meeting the complete specifications required for both the oil and gas and infrastructure sectors. We are grateful to state of Arkansas for its friendly policies. The leadership of Governor Sanders has played a pivotal role in creating an environment where global companies like Welspun can invest with confidence and thrive. We look forward to continuing our journey here and contributing meaningfully to the region's economic growth.' 'As global energy demand continues to evolve, we remain committed to driving growth and delivering value across our operations,' said Vipul Mathur, Managing Director and CEO of Welspun Corp Ltd. 'This expansion will enable us to offer a comprehensive pipeline solution for our customers, addressing the increasing demand in U.S. energy infrastructure.' 'Companies around the world are all realizing the same thing: Arkansas means business. Whether their priority is low taxes, low cost of living, low cost of energy, ease of doing business, a quality workforce, or easy access to global markets, companies like Welspun are choosing the Natural State time and again,' said Governor Sanders. 'It's an honor to join Welspun Tubular for their second major expansion announcement in less than a year, and I'm thankful to their team for continuing to invest in Arkansas.' The new LSAW facility will enhance Welspun's capability to serve diverse sectors including oil and gas, carbon capture, LNG export, and hydrogen pipelines. The expansion underscores Welspun's long-term commitment to the U.S. market and highlights Arkansas' strategic role in supporting advanced manufacturing and infrastructure development through industry-friendly policies. This is Welspun Tubular's second major announcement in Arkansas in two consecutive years. In October 2024, the company announced plans to invest $100 million to expand and upgrade its High Frequency Induction Welded (HFIW) pipe manufacturing facility in Little Rock. This expansion, which is expected to be completed by Q1 2026, will create 175 jobs. Welspun Tubular has operated in Arkansas for nearly two decades, establishing its manufacturing presence in at the Port of Little Rock in 2007. Since that time, Welspun has made multiple investments in its Little Rock operations, totaling over $400 million. Quotes 'Thank you to Welspun Tubular for doubling down on Little Rock and Arkansas with this $150 million investment,' said Clint O'Neal, Executive Director of the Arkansas Economic Development Commission. 'Following a significant $100 million investment in 2024, this expansion will create 300 new jobs for Arkansans. Welspun Tubular has consistently grown in Little Rock, Arkansas thanks to the industry-friendly environment, talented workforce, low costs, and the vision of our state and local leadership.' 'Welspun recognizes the extensive advantages of investing in our community by growing its manufacturing footprint at the Port of Little Rock,' said Little Rock Mayor Frank Scott Jr. 'We appreciate its confidence in our City through its decision to continue that investment with a new steel pipe plant that will generate 300 new jobs. Welspun's announcement today is yet another example of Little Rock's job growth mindset, our excellent climate for business, and our position as one of the leading economies in the South.' 'Welspun's investment reflects a strong belief in the talent and potential of our local workforce,' said Pulaski County Judge Barry Hyde. 'By creating high-quality jobs and expanding manufacturing capacity, this project helps drive long-term economic growth not just for Pulaski County, but for the entire region.' 'Less than one year after announcing a $100 million expansion, Welspun is doubling down, investing another $150 million. This is a clear sign that Little Rock can meet the needs of international employers, providing road, rail, river, and runway to move products across the globe,' said Jay Chesshir, President and CEO of the Little Rock Regional Chamber. 'This investment not only creates 300 jobs, it also provides significant revenue for our City, County, and public schools.' 'In 2007, Welspun took a chance on the Port of Little Rock and located their manufacturing operation here in our community,' said Bryan Day, Executive Director of the Little Rock Port Authority. 'Welspun quickly became one of the Port's flagship partners and has continued to expand their operations. Today we are celebrating their fourth investment in our community. We are proud to have Welspun as our partner and we wish them the best of luck with this new endeavor.' About Welspun Corp Welspun Corp Ltd (WCL) is the flagship company of Welspun World, one of India's fastest-growing multinationals with a leadership position in line pipes and home solutions, along with other lines of businesses including infrastructure, pipe solutions, building materials, warehousing, retail, advanced textiles, and flooring solutions. WCL is one of the largest manufacturers of large-diameter pipes globally and has established a global footprint across six continents and fifty countries by delivering key customized solutions for both onshore and offshore applications. The company also manufactures Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars, and TMT (Thermo-Mechanically Treated) Rebars. The company has state-of-the-art manufacturing facilities in Anjar (Gujarat), Bhopal (Madhya Pradesh), Mandya (Karnataka) and Jhagadia (Gujarat) in India. Overseas, WCL has a manufacturing presence in Little Rock, Arkansas, USA. WCL's expansion entails creating a diversified product portfolio and repurposing its business to add new target segments, organically and inorganically. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio. Website: | Email: [email protected] About the Arkansas Economic Development Commission At AEDC, we know economic advancement doesn't happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. To learn more, visit About the Little Rock Regional Chamber The Little Rock Regional Chamber is the principal business-driven leadership organization responsible for fostering the economic growth and development of the Little Rock region to ensure that business and industry may operate profitably and enhance the earning opportunities and quality of life for every citizen. For more information, visit A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Business Standard
30-05-2025
- Business
- Business Standard
Welspun Corp Ltd soars 2.99%, up for fifth straight session
Welspun Corp Ltd is quoting at Rs 921.8, up 2.99% on the day as on 12:44 IST on the NSE. The stock is up 67.92% in last one year as compared to a 9.79% drop in NIFTY and a 5.36% drop in the Nifty Metal. Welspun Corp Ltd gained for a fifth straight session today. The stock is quoting at Rs 921.8, up 2.99% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.39% on the day, quoting at 24737.15. The Sensex is at 81342.53, down 0.36%. Welspun Corp Ltd has risen around 20.62% in last one month. Meanwhile, Nifty Metal index of which Welspun Corp Ltd is a constituent, has risen around 8.03% in last one month and is currently quoting at 9351.65, down 1.59% on the day. The volume in the stock stood at 33.4 lakh shares today, compared to the daily average of 13.48 lakh shares in last one month. The PE of the stock is 41.59 based on TTM earnings ending December 24.
Mint
30-05-2025
- Business
- Mint
Recommended stocks to buy today: Top stock picks by market experts for 30 May
Indian benchmark indices Sensex and the Nifty 50 closed in positive territory on Thursday, snapping their two-day losing run on fag-end buying in select blue-chip stocks. The Sensex closed 321 points, or 0.39%, higher at 81,633.02. The Nifty 50 settled at 24,833.60, up 81 points, or 0.33%. The Bank Nifty also saw a strong recovery, ending 129.05 points higher at 55,546.05. Here are the top stock picks for today as recommended by some of India's top market experts. Three stocks recommended by Ankush Bajaj for 30 May Buy Welspun Corp Ltd (current price: ₹895) Buy Lloyds Metals and Energy (current price: ₹1413.50) Also Read: Returns trump valuations: Are these stocks screaming a buy? Buy Ashok Leyland Ltd (current price: ₹240.75) Also Read: Ashok Leyland to face speed-breakers of rising commodity price, muted volume Two stock recommendations by MarketSmith India: Buy Motilal Oswal Financial Services Ltd. (current price: 809.95) ● Why it's recommended: Diverse business model and reputation for quality research ● Key metrics: P/E: 18.83, 52-week high: ₹ 1,064.00, volume: ₹ 308.39 crore ● Technical analysis: Reclaimed 200-DMA ● Risk factors: Regulatory and legal risks, reputation, and ethical risks ● Buy at: ₹ 809.95 ● Target price: ₹ 950 in three months ● Stop loss: ₹ 760 Buy DCB Bank Ltd (current price: ₹ 145.50) ● Why it's recommended: Focused retail and SME lending strategy, granular, and secured loan book ● Key metrics: P/E: 7.31, 52-week high: ₹ 164, volume: ₹ 44.15 crore ● Technical analysis: cup-with-handle breakout ● Risk factors: Moderate scale and limited market presence, vulnerability to sme credit cycles ● Buy at: ₹ 145.50 ● Target price: ₹ 163 in three months ● Stop loss: ₹ 137 Stocks to trade today as recommended by Trade Brains Portal Computer Age Management Services Ltd (Current price: ₹ 3,987) In FY25, their mutual fund revenue grew by 25%, and transaction volume grew 49% to 89.2 crore from 59.8 crore, and new SIP registrations surged 51% to 400 lakh, and the SIP book growth stood at 5.7 crore, an 18% growth YoY. Unique investors rose to 4.04 crore, up 26%, and live investor folios stood at 9.4 crore, a 30% growth YoY. Further, the equity AUM grew by 29% YoY to ₹24.8 trillion, with a 66.1% market share and 86% growth in equity sales to ₹3.6 trillion YoY. Furthermore, the systematic transactions processed grew by 43% to 72.3 crore. Their non-mutual fund assets revenue grew 25% YoY, and non-MF includes a variety of services such as CAMS Pay, CAMS Alternatives, CAMS Repositories, CAMS KRA, CAMS Finserv, Think360, and CAMS NPS. In FY25, the non-mutual fund business saw strong growth in revenue YoY. For FY25, the total revenue grew by 25% YoY to ₹1,475 crore from ₹1,177 crore in FY24, operating EBITDA stood at ₹656 crore, a 46% jump YoY, and PAT jumped by 33% YoY to ₹465 crore from ₹351 crore in FY24. In addition, the company focuses on cost and expects less than 10% for FY26. EBITDA margins for FY26 would be around 20% for non-MF and 44% for the mutual fund segment. On the capex side, the company expects ₹100 crore on re-architecture and ₹70 crore on BAU capex, including regulatory air gap data centers and tech upgrades. Additionally, with the mutual fund industry's net inflows and market gains of ₹8.15 lakh crore, the mutual fund sector in India achieved a 23.11% increase in AUM, reaching ₹65.74 lakh crore by March 2025. At the end of April 2025, the AUM stood at ₹69.99 lakh crore. It has grown about six and a half-fold in a span of 10 years. Further, debt funds had a resurgence, while equity-oriented schemes witnessed the largest inflows of ₹4.17 lakh crore. Folios increased 32% year over year to reach 23.45 crore, indicating an increase in investor involvement in all categories. Also Read: The temperament trap: Why your personality might be your portfolio's biggest enemy Sun Pharmaceutical Industries Ltd (Current price: ₹ 1,699) Sun Pharma is spread over 100 countries. In FY25, the gross sales stood at ₹52,041.2 crore, a 9% growth YoY. EBITDA stood at ₹15,271.7 crore, up 17.3%, and adjusted net profit for FY25 was ₹11,984.4 crore, a 14% growth YoY. The company's total dividend for FY25 was ₹16 per share, and it announced a final dividend of ₹5.5 per share. In India, formulation sales stood at ₹16,923 crore, a 14% rise YoY. US formulation sales stood at US$ 1,921 million, up 3.6%, and global specialty sales were at US$ 1,216 million, up 17%. In emerging markets, formulation sales were at US$ 1,114 million, up 7%, and the rest of the world's formulation sales grew 4.5% to US$ 847 million. Further, the company has increased its API by 11% to ₹2,129.2 crore, and external sales were at ₹533 crore for Q4 FY25, up 28%. On R&D, the company has invested ₹3,248.4 crore for FY25, or 6.2% of sales, and its specialty R&D pipeline includes 8 novel entities in the clinical stage. The company received approval for 542 ANDAs in the US, and 117 filings for ANDAs await approval from the US. This includes 33 tentative approvals. Additionally, the portfolio includes 57 approved NDAs, while 13 NDAs await US FDA approval. For the quarter, 9 ANDAs were filed, and 1 ANDA approval was received. Global specialty pipeline, Ilumya, for psoriatic arthritis, is in Phase 3, with the next milestone by H2CY25. Fibromun for soft tissue sarcoma and glioblastoma is in Phase 3 & 2, and SCD-044 for atopic dermatitis and psoriasis is currently in Phase 2 and will be achieved during H1CY25. GL0034 for type 2 diabetes, completed starts during H2CY25, and MM-II for pain in osteoarthritis is completed, and planning to enter a partnership for commercialization. Three stocks to trade, recommended by NeoTrader's Raja Venkatraman: Deepak Fertilisers (current price ₹1519.50) The long body candles seen in the last two trading session indicate more upside in store for this counter. TD Power Systems (current price ₹511.45) Marksans Pharma (current price ₹260.25) Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. MarketSmith India: Trade name: William O'Neil India Pvt. Ltd; Sebi-registered research analyst registration number: INH000015543 Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
30-05-2025
- Business
- Mint
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today—30 May 2025
Breakout stocks to buy or sell: Domestic equity benchmarks, Sensex and Nifty 50, snapped their two-day losing streak and rebounded by nearly half a per cent in the previous market session, mirroring a rally in global markets after a US court blocked US President Donald Trump's reciprocal tariffs. The 30-share BSE Sensex rose 320.70 points or 0.39 per cent to settle at 81,633.02 in a volatile session amid monthly expiry in derivative contracts. During the day, it rose 504.57 points or 0.62 per cent to 81,816.89. The 50-share NSE Nifty rose 81.15 points or 0.33 per cent to 24,833.60. The index swung in both directions on the monthly expiry day before settling higher. Sumeet Bagadia, Executive Director at Choice Broking, said, 'The undertone for the Indian stock market is positive, but the Nifty 50 index is facing a hurdle at 25,000 levels. On breaching above this resistance, we can expect the benchmark index to touch 25,400 soon.' 'On the lower side, the index has made strong support at the 24,500 levels. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option,' added Bagadia. Sumeet Bagadia recommended buying these five breakout shares to buy today: Strides Pharma Science Ltd, Dodla Dairy Ltd, Welspun Corp Ltd, Onesource Industries And Ventures Ltd, and TD Power Systems Ltd. Strides Pharma Science Ltd: Buy at ₹ 784, target price ₹ 835, stoploss ₹ 750 Dodla Dairy Ltd: Buy at ₹ 1,268.1, target price ₹ 1,350, stoploss ₹ 1,222 Welspun Corp Ltd: Buy at ₹ 895, target price ₹ 950, stoploss ₹ 865 Onesource Industries And Ventures Ltd: Buy at ₹ 1,801.5, target price ₹ 950, stoploss ₹ 865 TD Power Systems Ltd: Buy at ₹ 511.45, target price ₹ 545, stoploss ₹ 495. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
Mint
30-05-2025
- Business
- Mint
Three stocks to buy today: Expert Ankush Bajaj's picks for 30 May
Indian benchmarks indices Sensex and the Nifty 50 closed in positive territory on Thursday, snapping their two-day losing run on fag-end buying in select blue-chip stocks. The Sensex closed 321 points, or 0.39%, higher at 81,633.02. The Nifty 50 settled at 24,833.60, up 81 points, or 0.33%. The Bank Nifty also saw a strong recovery, ending 129.05 points higher at 55,546.05. Top three stocks recommended by Ankush Bajaj for 30 May Buy Welspun Corp Ltd (current price: ₹895) Buy Lloyds Metals and Energy (current price: ₹1413.50) Also Read: Returns trump valuations: Are these stocks screaming a buy? Buy Ashok Leyland Ltd (current price: ₹240.75) Market Wrap On Thursday, the Indian stock market witnessed a dramatic session on monthly expiry day. After opening with a gap-up, indices came under pressure and traded weak for most of the day, reflecting cautious sentiment and lack of follow-through buying. However, in the final hour of trade, markets staged a sharp rally, fueled by short-covering and expiry-led momentum, helping key indices to close firmly in the green. The Nifty 50 ended 81.15 points higher, up 0.33%, at 24,833.60. The BSE Sensex climbed 320.70 points or 0.39% to settle at 81,633.02. The Bank Nifty also saw a strong recovery, ending 129.05 points higher, up 0.23%, at 55,546.05. Among sectors, metal stocks led the rally with a 1.21% gain, followed by the realty index which rose 1.14%, and the pharma index which added 0.92%. On the flip side, the PSU bank index slipped 0.24%, the FMCG index dipped 0.13%, and the PSE index was marginally down by 0.02%. In the list of top gainers, IndusInd Bank rose 2.36% driven by strong buying interest. Sun Pharma gained 2% amid renewed optimism in the pharma sector. Adani Ports closed 1.96% higher on the back of stock-specific momentum. Among laggards, HDFC Life declined 1.08% as traders booked profits. Tata Consumer dropped 1.03% due to weak sentiment in FMCG counters. Bharat Electronics Ltd (BEL) was down 0.93%, facing some pressure after a recent rally. Also Read: Intense competition hurts paint companies' profitability; more pain in the offing Nifty Technical Analysis The Nifty opened at 24,825 and witnessed a volatile session, hitting an intraday high of 24,892 and a low of 24,677, before closing at 24,833.60—near yesterday's opening level. Despite breaching the 24,700 support intraday, the index managed to reclaim ground and close with mild gains, indicating some intraday recovery. However, the broader range of 24,700–25,000 remains intact, with the index struggling to decisively move beyond the 24,900–25,000 resistance zone. The price action suggests a continued tug-of-war near key levels, with bulls defending support while facing stiff resistance overhead. From a broader trend perspective, Nifty continues to trade above both the 20-day SMA (24,672) and the 40-day EMA (24,251), keeping the long-term uptrend structure valid. On the daily chart, the RSI has ticked up to 57, showing slight improvement, but the MACD remains in a short signal, albeit above the zero line—indicating weakness is fading, but not yet reversed. On the hourly chart, the setup has turned mixed with early signs of improvement. The index closed slightly above the 20-hour SMA (24,797) and the 40-hour EMA (24,809), suggesting a possible shift in short-term sentiment. The hourly MACD has generated a buy signal, though still below the zero line, and RSI has recovered to 55, reflecting stabilizing momentum. However, sustained movement above the 24,900–25,000 zone is needed to confirm strength. India VIX cooled off sharply by 8.87% to settle at 16.42, suggesting reduced fear and intraday volatility. Outlook Nifty remains range-bound between 24,700 and 25,000, with a neutral to slightly positive bias for the short term. A decisive breakout above 25,000 could pave the way toward 25,150–25,200 levels. On the downside, 24,700 continues to act as immediate support; a breach below this could expose the index to 24,500 once again. Traders are advised to stay selective and wait for a directional confirmation before taking aggressive positions. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
