Welspun Corp moves up as its arm planning to invest around Rs 807 crore for manufacturing unit in Telangana
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Welspun Corp is currently trading at Rs. 536.55, up by 5.05 points or 0.95% from its previous closing of Rs. 531.50 on the BSE.
The scrip opened at Rs. 530.15 and has touched a high and low of Rs. 548.65 and Rs. 530.15 respectively. So far 18849 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 569.40 on 06-Dec-2023 and a 52 week low of Rs. 177.85 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 550.55 and Rs. 523.95 respectively. The current market cap of the company is Rs. 14148.33 crore.
The promoters holding in the company stood at 49.96%, while Institutions and Non-Institutions held 20.97% and 29.07% respectively.
Welspun Corp’s wholly owned subsidiary -- Sintex BAPL has finalized an investment of up to around Rs 807 crore to set up manufacturing unit in the state of Telangana through a wholly owned step down subsidiary, Sintex Advance Plastics (SAPL), which will be spread over the next three financial years starting from FY25. The project will be funded through a combination of debt and equity.
The proposed investment is for manufacturing around 59 KMTPA of Plastic Pipes, around 5,300 MTPA of Water Storage Tanks and around 8,900 MTPA Sandwich Moulded Tanks. The pipes and fittings would include CPVC, UPVC, HDPE, and OPVC pipes and shall cater to the exponentially growing water distribution segment.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
