Shares of Welspun Corp Ltd (WCL) surged over 7 per cent today after the company reported five- fold increase in consolidated net profit for the quarter ended March 31, 2017.
The stock rose by 7.42 per cent to end at Rs 87.55 on BSE. During the day, it soared 12 per cent to Rs 91.30.
At NSE, shares of the company climbed 6.93 per cent to close at Rs 87.15.
The company's market valuation too rose by Rs 161 crore to Rs 2,322 crore.
In terms of volume, 13.98 lakh shares of the company were traded on BSE and over 53 lakh shares changed hands at NSE during the day.
Welspun Corp Ltd (WCL), flagship company of the Welspun Group, today posted five-fold increase in consolidated net profit to Rs 68.59 crore for the quarter ended March 31, 2017.
The company had posted consolidated net profit of Rs 13.06 crore in the year-ago period, WCL said in a filing to BSE.
The consolidated income increased to Rs 2,172.49 crore, from Rs 1,976.05 crore in the corresponding quarter of FY16.
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