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Welspun India surges on plan to invest around Rs 3,000 crore

04 Jan 2013

Welspun India is currently trading at Rs. 62.45, up by 0.95 points or 1.54% from its previous closing of Rs. 61.50 on the BSE.

The scrip opened at Rs. 62.25 and has touched a high and low of Rs. 63.00 and Rs. 62.00 respectively. So far 11727 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.60 on 19-Nov-2012 and a 52 week low of Rs. 26.50 on 05-Jan-2012.

Last one week high and low of the scrip stood at Rs. 65.90 and Rs. 56.00 respectively. The current market cap of the company is Rs. 560.56 crore.

The promoters holding in the company stood at 67.78% while Institutions and Non-Institutions held 18.59% and 13.63% respectively.

Welspun India, a Welspun Group company, has decided to invest around Rs 3,000 crore for setting up integrated textile parks and manufacturing facilities in Gujarat. The entity is expected to sign a memorandum of understanding (MoU) for the same at the upcoming Vibrant Gujarat Summit 2013. The company aims to concentrate on almost the entire textile value chain, right from spinning, weaving, processing and manufacturing.

Welspun India manufactures home textile products in bed and bath segments such as bed linen, basic bedding, decorative bedding, terry towels, rugs and yarn.

Related Welspun India Ltd. Links:

Welspun India Share Price

92.65 -0.40 (-0.43%) Jun 17, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323