Welspun Corp gains 6%; forms JV with Wasco Energy

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of Welspun Corp gained nearly 6 percent intraday Tuesday as the company has entered into joint venture agreement with Wasco Energy.The joint venture company will set up a state-of-the-art concrete weight coating plant at Ajmer, Gujarat. Wasco Energy is a wholly owned subsidiary of Wah Seong Corporation Berhad, Malaysia.In the joint venture company, Welspun Corp will hold 51 percent and Wasco will hold 49 percent.The joint venture will help both the companies to reduce to time the market, whilst maintaining the technical excellence that Welspun is renowned for. The JV will also support Wasco to expand its foot print across the Indian subcontinent, as per BSE Release.The company's 20th annual general meeting (AGM) will be held on August 31, 2015.At 13:26 hrs Welspun Corp was quoting at Rs 108.05, up Rs 4.30, or 4.14 percent on the BSE.Posted by Rakesh Patil