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Last Updated : Feb 13, 2020 12:00 PM IST | Source: Moneycontrol.com

Welspun Corp share price dips 3% on UAE subsidiary shutdown

The closure has no material impact on the company.

 
 
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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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At 11:50 hrs, Welspun Corp was quoting at Rs 208.60, down Rs 3.15, or 1.49 percent on the BSE.

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First Published on Feb 13, 2020 12:00 pm
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