 "Welpsun Corp extends gain on promoter stake hike")
Welspun Corp was up 3% at Rs 82.35 on the BSE in intra-day trade, extending its Wednesday’s 6% surge, after the promoter hike its stake in the company through open market transaction.
On Wednesday, December 21, 2016, MGN Agro Properties Private Limited, one of the promoters of Welspun Corp had purchased 5.85 million equity shares representing 2.4% of total equity of the company via block deal on the BSE.
Granele Limited had sold 5.85 million shares at Rs 77 per share, data shows. As of September 30, 2016, Granele held 14.47% or 35.03 million shares in Welspun Corp.
At 11:05 am; the stock was up 2% at Rs 81.55 on the BSE as compared to 0.70% decline in the S&P BSE Sensex. A combined 954,928 shares changed hands on the counter on the BSE and NSE so far.
On Wednesday, December 21, 2016, MGN Agro Properties Private Limited, one of the promoters of Welspun Corp had purchased 5.85 million equity shares representing 2.4% of total equity of the company via block deal on the BSE.
Granele Limited had sold 5.85 million shares at Rs 77 per share, data shows. As of September 30, 2016, Granele held 14.47% or 35.03 million shares in Welspun Corp.
At 11:05 am; the stock was up 2% at Rs 81.55 on the BSE as compared to 0.70% decline in the S&P BSE Sensex. A combined 954,928 shares changed hands on the counter on the BSE and NSE so far.