Welspun Corp share price declined 3 percent intraday on February 13 after the company closed its stepdown non-operating company in the UAE with effect from February 11, 2020.
This UAE company was engaged in trading activities in steel & pipes and was not having significant operations during the last few years, hence, it was decided to close it down, said the company.
The closure has no material impact on the company, it added.
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