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22-Jan2018

Welspun Enterprises jumps on concluding acquisition of 49% stake in 2 Project from MBL Group

Welspun Enterprises is currently trading at Rs. 181.65, up by 1.45 points or 0.80% from its previous closing of Rs. 180.20 on the BSE.

The scrip opened at Rs. 183.00 and has touched a high and low of Rs. 185.45 and Rs. 180.05 respectively. So far 30712 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.00 on 10-Jan-2018 and a 52 week low of Rs. 60.35 on 23-Jan-2017.

Last one week high and low of the scrip stood at Rs. 195.20 and Rs. 175.00 respectively. The current market cap of the company is Rs. 2673.30 crore.

The promoters holding in the company stood at 44.56%, while institutions and non-institutions held 9.32% and 46.12% respectively.

Welspun Enterprises has completed the acquisition of 49% stake in 2 Project from MBL Group at the agreed consideration of Rs 23 crore. The company shall replace the Bank Guarantees provided by MBL group within 60 days of the Appointed Date.

The Projects are for 4-Laning of Chutmalpur-Ganeshpur section of NH-72A & Roorkee-Chutmalpur-Gagalheri section of NH-73 and for 4-Laning at Gagalheri-Saharanpur-Yamunanagar (UP/ Haryana border) section of NH-73.

Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.


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