Welspun Corp rallies as promoter ups holding

The stock has zoomed 41% in past three trading sessions compared to less than 1% rise in S&P BSE Sensex.

Welspun Corp has rallied 12% to Rs 49.40 on back of heavy volumes on the BSE after promoter bought more than 50,000 shares through open market.

A combined around one million shares have already changed hands on the counter till 0930 hours against an average sub 500,000 shares that were traded daily in past two weeks on the BSE and NSE.

On December 18, Krishiraj Trading Limited has purchased 30,572 shares on the BSE and 22,926 shares on the NSE, according to information filed by the company on the stock exchanges.

The promoter has acquired these shares at an average price of Rs 35.90, data shows.

Post acquisition, total holding of Krishiraj Trading Limited in the company increased to 31.59% from 31.57%.

Meanwhile, the stock has zoomed 41% in past three trading sessions from Rs 34.95 on December 17, compared to less than 1% rise in benchmark S&P BSE Sensex.