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Welspun Enterprises gains after setting record date for stock-split

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Welspun Enterprises rose 1.79% to Rs 896 at 13:55 IST on BSE after the company fixed 22 March 2016 as the record date for 10-for-1 stock split.

The announcement was made during market hours today, 10 March 2016.

Meanwhile, the S&P BSE Sensex was down 167.92 points or 0.68% at 24,626.04

On BSE, so far 8,765 shares were traded in the counter as against average daily volume of 15,643 shares in the past one quarter. The stock hit a high of Rs 898.90 and a low of Rs 876.60 so far during the day. The stock had hit a 52-week high of Rs 963.10 on 4 August 2015. The stock had hit a 52-week low of Rs 319.50 on 16 March 2015. The stock had underperformed the market over the past one month till 9 March 2016, sliding 1.03% compared with 3.22% gains in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 0.1% as against Sensex's 0.97% fall.

The small-cap company has equity capital of Rs 100.47 crore. Face value per share is Rs 10.

Welspun Enterprises' net profit rose 21.3% to Rs 174.08 crore on 12.2% rise in net sales to Rs 1343.15 crore in Q3 December 2015 over Q3 December 2014.

Welspun Enterprises' key activity is in the infrastructure business. The company operates projects on public private partnership (PPP) basis in various sectors like roads, water, and urban infrastructure.

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First Published: Thu, March 10 2016. 14:05 IST