Shares of Welspun Corp Ltd. gained as much as 2% on Tuesday, December 9, after its associate company, East Pipes Integrated Company (EPIC), a listed entity in Saudi Arabia, signed a contract with the Saudi Water Authority. However, the stock has erased early gains and are now trading lower.

The agreement, valued at over 485 million SAR (approximately ₹1,165 crore, including VAT), covers the manufacturing and supply of steel pipes.

The contract is set for a duration of six months, Welspun Corp said in a regulatory filing.

EPIC, widely regarded as Saudi Arabia's leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes, operates fully integrated manufacturing facilities.

Its strong track record in executing large-scale orders on time, while maintaining high quality and a customer

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