Welspun India jumps on foraying into mattress business
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Welspun India is currently trading at Rs. 97.75, up by 1.85 points or 1.93% from its previous closing of Rs. 95.90 on the BSE.
The scrip opened at Rs. 96.00 and has touched a high and low of Rs. 99.60 and Rs. 96.00 respectively. So far 317274 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 170.75 on 12-Oct-2021 and a 52 week low of Rs. 75.55 on 15-Apr-2021.
Last one week high and low of the scrip stood at Rs. 103.70 and Rs. 95.25 respectively. The current market cap of the company is Rs. 9742.26 crore.
The promoters holding in the company stood at 70.36%, while Institutions and Non-Institutions held 13.97% and 15.67% respectively.
Welspun India has made its foray into the mattress catgory under its home linen brand SPACES. It has launched 'SPACES Matchress' with a variety of offerings on the back of extensive market research as an extension of its home wellness offerings.
The brand offers customisable, orthopedic, firm and fab mattress ranges for different consumer preferences. The mattress comes with the benefits of an in-built mattress protector, odor-free and anti-pilling, 12 years warranty, among others.
Its move to enter the mattress category underscores SPACES' aggressive focus on the domestic market and its aim to capitalise on emerging opportunities in this high-potential segment with innovative offerings.
Welspun India is one of the largest manufacturers and exporters of bed & bath textile products globally. The company’s portfolio comprises wide range of home textile products such as terry towels, bed linen (basic bedding and decorative bedding) rugs and bathrobes.
