New Delhi, June 1 -- On Thursday morning, Welspun Corp stock was up 10% on highest volumes of shares traded on any day in the past twelve months. The stock closed at its 52-week peak of Rs.895 on the BSE. The company, which makes steel pipes for transporting oil, had just announced its Q4FY25 and FY25 results, reporting a 67% increase in consolidated net profits over the previous financial year despite a 19% fall in annual revenues.

The sudden confidence of investors should come as a surprise. There was some serious uncertainty surrounding its business after President Donald Trump imposed a 25% tariff on steel imports into the US in early March. Welspun, which has a pipe making factory in the US, imported steel as raw material, which mad...