Welspun Corp corrects on profit booking

Welspun Corp fell 3.13% to Rs 117.50 at 11:07 IST on BSE on profit booking after the stock jumped 9.48% in the preceding five trading sessions to Rs 121.30 on 7 October 2015, from a recent low of Rs 110.80 on 29 September 2015.

Meanwhile, the BSE Sensex was down 104.89 points, or 0.39%, to 26,930.96.

On BSE, so far 1.53 lakh shares were traded in the counter, compared with an average volume of 3.18 lakh shares in the past one quarter.

The stock hit a high of Rs 122.95 and a low of Rs 116.50 so far during the day. The stock hit a 52-week high of Rs 153.60 on 5 August 2015. The stock hit a 52-week low of Rs 51.90 on 27 March 2015.

The stock had outperformed the market over the past one month till 7 October 2015, rising 32.06% compared with 8.60% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.18% as against Sensex's 4.03% decline.

The mid-cap company has an equity capital of Rs 131.59 crore. Face value per share is Rs 5.

On consolidated basis, Welspun Corp's net profit rose 116.8% to Rs 16.39 crore on 35.9% growth in net sales to Rs 1876.57 crore in Q1 June 2015 over Q1 June 2014.

Welspun Corp is a one-stop service provider offering complete pipe solutions.

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