Welspun Corp’s promoter has increased their stake in the company via open market purchase. Krishiraj Trading, the promoter group company, bought 5.67 million shares representing 2.16% stake in the Welspun Corp at an average price of Rs 93.58 per share through NSE and BSE.
However, Nippon Investment and Finance Company had sold 5 million shares of the company via bulk deals.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
