Welspun Corp climbs on acquiring entire share capital of Nauyaan Shipyard
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Welspun Corp is currently trading at Rs. 272.30, up by 5.55 points or 2.08% from its previous closing of Rs. 266.75 on the BSE.
The scrip opened at Rs. 269.40 and has touched a high and low of Rs. 274.75 and Rs. 268.35 respectively. So far 125548 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 274.75 on 20-Sep-2022 and a 52 week low of Rs. 121.95 on 20-Sep-2021.
Last one week high and low of the scrip stood at Rs. 274.75 and Rs. 240.10 respectively. The current market cap of the company is Rs. 7121.04 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 19.52% and 30.47% respectively.
Welspun Corp has acquired entire share capital of Nauyaan Shipyard (Nauyaan), a company with objects, inter alia, of ship building, shippers, ship-owners, repairers, re-fitters, fabricators etc., from a related party (promoter and promoter group of the Company), at a fair value consideration of Rs 1 lakh only) with an intention to make it a wholly owned subsidiary and a special purpose vehicle for investment in the field of Marine Fabrication. Nauyaan presently does not have any material assets or liabilities.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
