Welspun Enterprises corrects on profit booking

Welspun Enterprises fell 1.99% to Rs 105.80 at 15:19 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 16.58 points, or 0.05% to 31,112.28.

On the BSE, 10.72 lakh shares were traded in the counter so far, compared with average daily volumes of 3.49 lakh shares in the past one quarter. The stock had hit a high of Rs 113.70 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 105.35 so far during the day. The stock hit a 52-week low of Rs 54 on 22 November 2016.

The stock had outperformed the market over the past one month till 12 June 2017, rising 17.27% compared with 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 59.34% as against Sensex's 5.61% rise. The scrip had also outperformed the market in past one year, rising 73.97% as against Sensex's 17.80% rise.

The small-cap company has equity capital of Rs 147.29 crore. Face value per share is Rs 10.

Shares of Welspun Enterprises rose 18.11% in four trading sessions to settle at Rs 107.95 yesterday, 12 June 2017, from its close of Rs 91.40 on 6 June 2017.

Net profit of Welspun Enterprises rose 276.06% to Rs 17.75 crore on 148.51% rise in net sales to Rs 181.49 crore in Q4 March 2017 over Q4 March 2016.

Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in oil & gas exploration.

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