Welspun Corp shares gain 4% as UAE subsidiary gets incorporation licence

Welspun Corp has received the Certificate of Incorporation/licence today from the relevant Dubai Multi Commodities Centre (DMCC), UAE

Welspun Corp Share Price: Shares of iron and steel products manufacturer Welspun Corp were in high demand on the bourses on Thursday, February 26, 2026, after the company announced an update on the incorporation of a subsidiary in the UAE. Following the update, the company’s share price rose 4.23 per cent to ₹831 per share on the NSE during intraday trade on Thursday.

 

Though Welspun Corp shares have partially pared their gains, they continued to trade higher on the bourses. At 10:15 AM, the company’s shares were seen exchanging hands at ₹817.55 per share, up 3.46 per cent from their previous close of ₹797.25 per share on the NSE. The benchmark NSE Nifty50, meanwhile, was trading at 25,547, up 65 points, or 0.26 per cent.

 

 

So far during today's trading session, a combined total of 0.5 million equity shares of Welspun Corp, estimated to be worth ₹40 crore, have exchanged hands on the BSE and NSE.

 

The company’s market capitalisation stood at ₹21,543.78 crore on the NSE as of February 26. Welspun Corp shares have a 52-week range of ₹994–₹664.30.  CATCH STOCK MARKET UPDATES TODAY LIVE

Welspun Corp announces update on the incorporation of a subsidiary

The noteworthy movement in the Welspun Corp share price came after the company informed the exchanges that its wholly owned subsidiary (WOS) in the Free Trade Zone, United Arab Emirates (UAE), has been incorporated in the name of “Welspun International FZCO” (WIFZCO) in Dubai Multi Commodities Centre (DMCC), UAE. 

The company has received the Certificate of Incorporation/licence today from the relevant DMCC authority. 

"WIFZCO will handle global marketing for all our products and also carry out the business of trading of any of the products and raw materials in which the parent company and its subsidiaries transact," said Welspun Corp in an exchange filing.  READ | Tejas Networks shares rally 8% on 5G deal; analyst stays bullish 

Earlier this month, on February 12, Welspun Corp informed the exchanges that Welspun Global Holdings Limited (WGHL), located in Dubai International Financial Centre (DIFC), UAE, and Welspun Mauritius Holdings Limited (WMHL), both wholly owned subsidiaries of the company, have informed Welspun Corp that their respective Boards of Directors have approved the transfer/acquisition of a 100 per cent equity stake in Welspun Pipes Company (WPC), KSA, from WMHL to WGHL for an aggregate consideration of $8 million. 

The transaction, however, is subject to receipt of applicable statutory and regulatory approvals. On completion of the transaction, WPC, which is currently a wholly owned subsidiary of WMHL, shall thereafter become a wholly owned subsidiary of WGHL, said Welspun Corp in a regulatory filing.