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.