Welspun Corp Ltd (WGSR.NS)
|Market Cap (Mil.):||Rs11,629.78|
|Shares Outstanding (Mil.):||262.82|
Reuters Market Eye - Shares in Welspun Corp Ltd gain 6.7 percent after Nippon Investment and Finance Co raises stake in the company to nearly 2.1 percent from 1.55 percent earlier through open market transactions.
* Shares in India's Welspun Corp Ltd gain 6.7 percent after Nippon Investment and Finance Co raises stake in the company to nearly 2.1 percent from 1.55 percent earlier through open market transactions. * Nippon, a Japanese private equity unit of Daiwa Finance Co Ltd, bought 1.39 million shares of Welspun Corp at 56.19 rupees a piece in a block deal on Tuesday, according to BSE data. (firstname.lastname@example.org /; email@example.com)
* Midcap shares have been hit hard this year (Adds analyst quote, details, background)
MUMBAI, Feb 25 - Indian mid- and small-sized stocks slumped on Monday, with welded steel pipe maker Welspun Corp Ltd falling as much as 28 percent, on speculation that the pledged shares of these companies were being sold off, dealers said.
Private equity major Apollo Global Management has converted its convertible debenture in pipe manufacturing firm Welspun Corp at a 60 per cent premium. Welspun Corp said that it will allot little over 35 million shares for one unsecured compulsorily convertible debenture of Rs 788.3 crore held by Granele, an affiliate of Apollo.