6 days ago
Capital Group, Aberdeen Buy Welspun Corp Stake, Shares Hit High
Several large investors bought a small part of Welspun Corp.
They purchased 63 lakh shares for about Rs 1,433 crore.
Capital Group bought the largest portion among the named investors.
At the same time, a promoter company and the company’s chief executive sold shares.
After the transactions, the promoters owned a smaller percentage of the company.
Welspun Corp’s share price then reached its highest level in a year.
The company recently won its biggest single order, worth Rs 17,200 crore.
Its June-quarter profit also rose sharply compared with the previous year.
Capital Group, Aberdeen Investments and domestic funds bought a 2.39% Welspun Corp stake for Rs 1,433.44 crore.
The investors acquired 63 lakh shares at an average price of Rs 2,275.30 each through NSE block deals.
Welspun Corp shares rose nearly 6% and reached a 52-week high of Rs 2,437.30.
Promoter holdings fell to 47.46% after Welspun Investments and CEO Vipul Mathur sold shares.
The purchases followed a record Rs 17,200 crore order and strong June-quarter profit growth.
- Who
- Capital Group, Aberdeen Investments, domestic funds, Welspun Investments and Commercials, and Welspun Corp CEO Vipul Mathur.
- What
- Investors bought a 2.39% stake in Welspun Corp through block deals, while promoter-linked sellers sold shares.
- Where
- The block deals took place on the National Stock Exchange; Welspun Corp is based in Mumbai.
- When
- The transactions occurred on Wednesday, and Welspun Corp shares reached a 52-week high on Thursday.
- Why
- The deals came after Welspun Corp secured its largest-ever single order and reported strong June-quarter results.
Key facts
- Stake acquired
- 2.39% of Welspun Corp
- Transaction value
- Rs 1,433.44 crore
- Shares acquired
- 63 lakh shares at Rs 2,275.30 each
- Share-price high
- Rs 2,437.30, a 52-week high
- Record order
- Rs 17,200 crore for pipes from the company’s US manufacturing facility
- Global order book
- USD 4.4 billion, or around Rs 42,100 crore
- June-quarter profit
- Rs 1,047.88 crore, compared with Rs 349.16 crore a year earlier










