The red wave that swept the Indian markets on Monday, November 2, appears to have devoured company shares that were in focus as well. Such is the case for Indian infra MNC Welspun as well. The company shares dropped by over 1 per cent in the intraday trade.

Homegrown Welspun Corp Ltd (WCL) on Monday said it has bagged two new orders in the US worth Rs 1,300 crore for supplying specialised pipes for natural gas pipeline projects. It aims to execute the order for Helical Submerged Arc Welded (HSAW) pipes in the financial year 2025-26,

The orders are to be executed in FY26. The company said its outlook for the US market remains positive. It added that it has participated in few more projects and is favourably placed in a couple of additional projects.