Welspun Corp Limited to foray into polymer business, forms subsidiary

Welspun Corp Limited has acquired entire share capital of Mahatva Plastic Products and Building Materials Private Limited ('Mahatva'), a newly incorporated company with objects, of Polymer products business, from an unrelated party at a consideration of Rs. 10,000/- with an intention to make it a Special Purpose Vehicle for organic / inorganic growth. Mahatva presently does not have any material assets or liabilities.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 169.90 as compared to the previous close of Rs. 167.85. The total number of shares traded during the day was 930739 in over 10423 trades.

The stock hit an intraday high of Rs. 173.85 and intraday low of 159.80. The net turnover during the day was Rs. 156097873.00.

Source : Equity Bulls

Keywords

WelspunCorpLimited INE191B01025 WELCORP PolymerBusiness Subsidiary Organic Inorganic Mahatva