Welspun Corp gains after block deals

A block deal of 18.60 lakh shares was executed at Rs 52.25 per share. Another block deal of 5.5 lakh shares was executed at Rs 52.65 per share. The two block deals constitute 0.91% of Welspun Corp's equity.

Meanwhile, the S&P BSE Sensex was up 127.85 points or 0.68% at 18,859.01.

On BSE, 28.20 lakh shares were traded in the counter as against average daily volume of 6.32 lakh shares in the past one quarter.

The stock hit a high of Rs 53.80 and a low of Rs 51.50 so far during the day. The stock had hit a 52-week high of Rs 138.25 on 18 April 2012. The stock had hit a 52-week low of Rs 43.75 on 21 March 2013.

The stock had outperformed the market over the past one month till 17 April 2013, sliding 2.76% compared with the Sensex's 3.58% fall. The scrip had, however, underperformed the market in past one quarter, declining 49.08% as against Sensex's 6.18% fall.

The small-cap company has equity capital of Rs 131.47 crore. Face value per share is Rs 5.

Welspun Corp on 12 April 2013 said its board of directors had decided to temporarily discontinue the plate and coil production at its facility at Anjar due to bleak business opportunities at Plate and Coil Mill division of the company.

Welspun Corp reported consolidated net loss of Rs 80.59 crore for Q3 December 2012, higher than net loss of Rs 70.20 crore in Q3 December 2011. Net sales rose 15.6% to Rs 2851.88 crore in Q3 December 2012 over Q3 December 2011.

Welspun Corp is a one-stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from half inch to 121 inches, along with specialized coating, double jointing and bending.

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