Welspun India gains after securing patent

Welspun India rose 1.08% to Rs 56.05 at 11:38 IST on BSE after the company said it secured an interactive textile article and augmented realty patent, protecting its new line of products.

The announcement was made after market hours on Friday, 23 September 2016.

Meanwhile, the BSE Sensex was down 165.50 points, or 0.58%, to 28,502.72.

On BSE, so far 3.19 lakh shares were traded in the counter, compared with average daily volume of 15.26 lakh shares in the past one quarter. The stock hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day. The stock hit a record high of Rs 119.90 on 14 June 2016. The stock hit a 52-week low of Rs 46.35 on 30 August 2016. The stock had underperformed the market over the past 30 days till 23 September 2016, rising 1.93% compared with 2.99% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 46.68% as against Sensex's 8.60% rise.

The mid-cap company has equity capital of Rs 100.47 crore. Face value per share is Re 1.

Welspun India announced that it has secured the 'Interactive Textile Article and Augmented Reality System' patent, which protects Welspun's new product line TILT, a new brand from Welspun that focuses on seamlessly integrating technology into textiles.

Welspun India's consolidated net profit rose 10.3% to Rs 201.85 crore on 11.3% rise in net sales to Rs 1386.46 crore in Q1 June 2016 over Q1 June 2015.

Welspun India is the leading home fashions supplier in the USA and amongst the top 3 global manufacturers of bed and bath linen.

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