Welspun Corp settles 3% up on robust Q2 earnings

Shares of pipes maker Welspun Corp today settled with gains of over 3 per cent after it reported multi-fold jump in consolidated net profit to Rs 101.09 crore for the September quarter.
Following the robust numbers, the stock jumped 8.65 per cent to touch its intra-day high at Rs 112.30 on BSE. Similarly, it zoomed 8.26 per cent to Rs 112 on NSE.
At close, the stock of Welspun Corp was quoted at Rs 106.70, up 3.24 per cent on the BSE.
On NSE, it ended at Rs 106.85, up 3.28 per cent.
Accordingly, the market capitalisation of the company improved by Rs 88.09 crore to Rs 2,808.09 crore.

On the volume front, 3.53 lakh shares got traded in the counter during the day on BSE, while, on NSE the figure stood at 13.31 lakh.

The Welspun Group company had clocked net profit of Rs 5.25 crore in the year-ago period.
Total consolidated income rose by 4 per cent to Rs 2,503.28 crore during the quarter under review from Rs 2,412.40 crore in the same quarter a year ago.
Total expenses of the firm were marginally lower at Rs 2,312.83 crore during the quarter under review, from Rs 2,326.30 crore a year ago.
In the broader market the BSE Sensex today settled at 25,760.10, up 149.57 points or 0.58 per cent.