Saturday , September 18 2021

Welspun Corp rises on entering into Business Transfer agreement with JSW Steel

Welspun Corp is currently trading at Rs. 145.05, up by 2.15 points or 1.50% from its previous closing of Rs. 142.90 on the BSE.

The scrip opened at Rs. 140.00 and has touched a high and low of Rs. 147.00 and Rs. 140.00 respectively. So far 77325 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 164.50 on 08-Apr-2021 and a 52 week low of Rs. 55.00 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 157.90 and Rs. 138.00 respectively. The current market cap of the company is Rs. 3792.90 crore.

The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 21.48% and 28.49% respectively.

Welspun Corp and JSW Steel have entered into Business Transfer agreement (BTA) for sale of Plates and Coil Mill Division (PCMD Division). As regards purchase consideration, an amount of Rs 225,00,00,000, has been received by the Company as on April 30, 2021. The balance purchase consideration shall be received by the Company by May 31, 2021 subject to fulfillment of regulatory approvals and payment milestones as provided under the BTA.

Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.

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