Welspun Corporation Ltd announced that it has pocketed orders worth Rs 700 crore from domestic as well as global markets.

In a declaration, the pipe maker stated that it is expected to implement the new orders of around 1,20,000 tonnes during the existing financial year.

Welspun Chairman and Managing Director B K Goenka stated, ''The customers trust on our engineering excellence shall further strengthen our position in the competitive market space.''

Presently, the company's order book stands at Rs 5,700 crore, which comprises the orders bagged during the existing quarter.

At 11:54 IST, Welspun Corp Ltd surged 3.67% to Rs 247.30 on the Bombay Stock Exchange (BSE).

In the meantime, the BSE Sensex remained up by 77.45 points to stand at 18,283.22.

On BSE, 1.83 lakh shares were traded in the counter as compared to an average every day volume of 1.92 lakh shares during the last thirty trading sessions.

Welspun Corp stock touched an intraday peak of Rs 248.65 and an intraday low of Rs 239.30.

The share price has seen a 52-week high of Rs 296.35 and a low of Rs 212.05 on BSE.