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Welspun Corp gains on getting nod for investment in Welspun Pipes Inc., USA

14 Aug 2013 Evaluate

Welspun Corp is currently trading at Rs. 32.40, up by 0.35 points or 1.09% from its previous closing of Rs. 32.05 on the BSE.

The scrip opened at Rs. 31.50 and has touched a high and low of Rs. 32.90 and Rs. 31.50 respectively. So far 46,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 112.90 on 10-Dec-2012 and a 52 week low of Rs. 28.95 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 39.60 and Rs. 28.95 respectively. The current market cap of the company is Rs. 851 crore.

The promoters holding in the company stood at 36.12% while Institutions and Non-Institutions held 16.21% and 38.92% respectively.

Welspun Corp’s Board of Directors of company in its meeting held on August 13, 2013 accorded their approval for Insight's investment in Welspun Pipes Inc., USA (WPI) currently a wholly owned subsidiary of Welspun Corp. Insight shall subscribe to Compulsorily Convertible Preference Shares resulting in a 10% equity stake post conversion in Welspun Pipes Inc. The funds will enable WPI to further strengthen its financial position. The investment will be subject to necessary approvals.

Welspun Corp, the flagship company of the $3.5 billion Welspun Group, is one stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from half inch to 120 inches, along with specialized coating, double jointing and bending.

Welspun Corp Share Price

1077.35 0.20 (0.02%)
17-Apr-2026 16:59 View Price Chart
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