 "Welspun Corp contemplating proposal to buyback equity shares at face value")
Welspun Corp Ltd, the flagship firm of the Welspun Group, Friday said its board will meet next week to consider buyback of shares.
A board meeting of the company will be held on May 14, 2019 to consider proposal to buyback the fully paid-up equity shares at the company face value of Rs 5 each.
The company, however, did not elaborate on the matter.
"The board will also consider the financial results and recommendation of dividend on equity shares for fiscal year ended March 31, 2019," Welspun Corp said in a BSE filing.
Corp is among the largest welded line pipe manufacturing companies in the world.
Shares of Welspun Corp were trading 2.96 per cent higher at Rs 144.15 apiece on BSE.
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