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Last Updated : May 13, 2019 12:35 PM IST | Source:

Welspun Corp falls 4% as NCLT approves scheme of amalgamation

The share touched its 52-week high Rs 186.90 and 52-week low Rs 89.30 on 06 September, 2018 and 18 February, 2019, respectively.

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Shares of Welspun Corp fell 4 percent intraday on May 13 after National Company Law Tribunal (NCLT) approved scheme of amalgamation of Welspun Pipes with the company.

This is to inform you that the order sanctioning the Scheme of Amalgamation of Welspun Pipes Limited ('WPL' or 'the Transferor Company') with Welspun Corp Limited ('WCL' or 'the Transferee Company') was pronounced by the Hon'ble National Company Law Tribunal ('NCLT'), Ahmedabad Bench on 10th May, 2019, the company said in a filing.

The company's board meeting will be held on May 14 to consider the financial results for the year ended March 31, 2019.

The board will also consider the proposal to buyback the fully paid-up equity shares of the company of face value of Rs 5 each and recommendation of dividend on equity shares for FYE 31.03.2019.

The share touched its 52-week high Rs 186.90 and 52-week low Rs 89.30 on September 6, 2018 and February 18, 2019, respectively.

Currently, it is trading 26.27 percent below its 52-week high and 54.31 percent above its 52-week low.

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First Published on May 13, 2019 12:29 pm
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