As per the agreement the company sold 37% equity stake in Dewas Bhopal Corridor Private Ltd, a 50% joint venture of the company, at an enterprise value of Rs 662 crore, Welspun Enterprises said in a release.
The above transaction has strengthened the company's financial capabilities by increasing the cash and reducing net debt by nearly Rs 2.82 billion.
The stock opened at Rs 55 and touched a high of Rs 59. At 10:10am, over 350,000 shares were traded on both the stock exchanges.
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