6 days ago

Capital Group, Aberdeen Buy Welspun Corp Stake, Shares Hit High

Capital Group, Aberdeen Buy Welspun Corp Stake, Shares Hit High
Capital Group, Aberdeen Buy Welspun Corp Stake, Shares Hit 52-Week High · freepressjournal.in

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.

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

Sources

Related news