Welspun Living jumps as its arm to invest in newly incorporated company
Welspun Living is currently trading at Rs. 183.10, up by 5.15 points or 2.89% from its previous closing of Rs. 177.95 on the BSE.
The scrip opened at Rs. 179.70 and has touched a high and low of Rs. 183.70 and Rs. 178.55 respectively. So far 69390 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 213.10 on 29-Aug-2024 and a 52 week low of Rs. 115.80 on 09-Oct-2023.
Last one week high and low of the scrip stood at Rs. 186.15 and Rs. 174.50 respectively. The current market cap of the company is Rs. 17576.47 crore.
The promoters holding in the company stood at 70.50%, while Institutions and Non-Institutions held 11.38% and 18.12% respectively.
Welspun Living’s subsidiary -- Welspun USA Inc has approved acquisition of, and investment of $300,000 in, a newly incorporated Company viz. Christy Home Inc. (CHI), on September 17, 2024.
Welspun USA Inc. has approved acquisition of 100% ordinary share capital of CHI. It will carry on the business of trading in Home Textiles products of Christy brand in USA. CHI was incorporated on July 01, 2024.
Welspun Living (Formerly known as 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.
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