Welspun Corp gained 7.5% to Rs 80.95 at 10:52 IST on BSE after a large bulk deal of 58.78 lakh shares was executed on the scrip at Rs 80.70 per share in opening trade on BSE.
Meanwhile, the S&P BSE Sensex was up 63.91 points, or 0.24%, to 26,371.89
Bulk deal boosted volume on the scrip. On the BSE, 64.32 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past one quarter. The stock had hit a high of Rs 83.40 and a low of Rs 77 so far during the day.
The stock hit a 52-week high of Rs 118 on 28 December 2015. The stock hit a 52-week low of Rs 56 on 9 November 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 7.96% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.89% as against Sensex's 7.72% decline.
The small-cap company has an equity capital of Rs 132.61 crore. Face value per share is Rs 5.
On a consolidated basis, Welspun Corp reported net loss of Rs 33.64 crore in Q2 September 2016, as compared with net profit of Rs 88.15 crore in Q2 September 2015. Net sales declined 44.61% to Rs 1153.06 crore in Q2 September 2016 over Q2 September 2015.
Welspun Corp is a one-stop service provider offering complete pipe solutions.
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