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Jan 11, 2018 11:43 AM IST | Source: Moneycontrol.com

Welspun India gains 4% as promoter sells 4.8% stake in Company

MGN Agro Properties sold 4,80,96,381 shares of Welspun India.

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Shares of Welspun India rose 4.3 percent intraday Thursday as promoter sold 5 percent stake via open market on January 10.

MGN Agro Properties, a promoter of company,  sold 4,80,96,381 shares of  at Rs 72.71 on the NSE.

As per shareholding pattern as on September 2017, the MGN Agro Properties was holding 5,02,36,257 equity shares.

However, DSP Blackrock Mutual Fund - Balanced Fund bought 71,52,682 shares at Rs 72.70 and DSP Blackrock Mutual Fund - Micro Cap Fund bought 1,65,06,190 shares at Rs 72.70.

Also, DSP Blackrock Mutual Fund - Opportunities Fund bought 68,00,000 shares at Rs 72.70 and DSP Blackrock Mutual Fund - Tax Saver Fund bought 67,85,420 shares at Rs 72.70.

The company had incorporated a wholly owned subsidiary viz. Welspun Nexgen Inc., registered with the state of Delaware, USA, having paid-up capital of USD 4.25 million for making investments in ecommerce companies.

At 11:34 hrs Welspun India was quoting at Rs 78.60, up Rs 2.10, or 2.75 percent on the BSE.

The share touched its 52-week high Rs 99.55 and 52-week low Rs 60.00 on 03 May, 2017 and 05 October, 2017, respectively.

Currently, it is trading 21.04 percent below its 52-week high and 31 percent above its 52-week low.

Posted by Rakesh Patil
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