Welspun Corp shares were down 4% on 23 October even after it won a Rs 5,500 crore US pipeline order that lifts its order book to a record.

Welspun told the exchange about the order at 9:09 am on Friday. Its US arm, Welspun Tubular LLC, won the work from a major American midstream company, the kind of business that moves and stores oil and gas.

The contract carries a value of roughly Rs 5,500 crore. Welspun will supply coated line pipes, which are steel pipes with a protective outer layer, for a natural gas pipeline in the Permian region of the United States.

The gas is headed for a data centre complex run by one of the world’s biggest technology firms, which the filing calls a top-tier hyperscaler.

The customer stays unnamed. The pipeline’s capacity is also undisclosed.

The company describes the order as sitting where energy transport meets the build-out of AI data centres.

The pipes will be made at Welspun’s own US plant and executed during FY29, which runs from April 2028 to March 2029.

The company says the order pushes its global order book to a record $5.25 billion, or roughly Rs 50,000 crore, the highest it has ever reported. This is the third big US win in recent months.

Earlier in August, the firm revealed its largest single deal to date, valued at around $1.8 billion for delivery in FY28 and FY29.

In September, it landed about $412.5 million of pipe business, to be made at its upgraded Little Rock plant in Arkansas.

At 13:23 pm, it’s trading at Rs 2,367.60 on the NSE, down Rs 76.60 from the previous close.

The stock has lost 15.26% over the past month but is up 180.66% over the past year. Its market value stands at Rs 62,515.74 crore.

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