-
ALSO READ
Welspun Enterprises clocks net profit of Rs 17.2 crore in Q2
Lower income drags Welspun India Q1 net down 38% to Rs 129 cr
Welspun Enterprises to buy 49% stake in 2 NHAI road projects from MBL Group
Welspun Corp gains on winning orders
Odisha approves downstream parks by JSL, Welspun, Gitanjali
-
A promoter of Welspun India on Wednesday sold nearly 5 per cent stake in the textile firm for almost Rs 3.5 billion through an open market transaction.
According to the bulk deal data available with NSE, Welspun India's promoter MGN Agro Properties Pvt Ltd offloaded 4.81 crore shares, amounting to 4.79 per cent stake in the firm.
The shares were disposed of at an average price of Rs 72.71 apiece, valuing the transaction at Rs 3.5 billion, the data showed.
Among the buyers of the shares were DSP BlackRock Mutual Fund's -- 'Balanced Fund', 'Micro Cap Fund', 'Opportunities Fund' and 'Tax Saver Fund'.
The four entities together bought 37.2 million shares at an average price of Rs 72.7 per scrip, taking the total value of the transaction to Rs 2.7 billion.
The shares of Welspun India settled 4.16 per cent higher at Rs 76.45 apiece on NSE today.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU