Welspun India adds over 14% in two days

Welspun India surged 10.21% to Rs 77.75, extending gains for second day.

The stock has added 14.25% in two sessions, from its recent closing low of Rs 68.05 on 2 March 2021.

In the past one year, the stock has zoomed 97.70% while the benchmark Sensex has added 32.97% during the same period.

In a regulatory filing made after market hours yesterday, Welspun India said that its board had approved raising of borrowing of upto a maximum of $100 million (approximately Rs 750 crore) in one or more form or instruments, including but not limited to loans, ESG Bonds, nonconvertible debentures (NCDs), ECBs, etc., may be raised in form of domestic or overseas issuance or both, or any combination of loans, ESG Bonds, NCDs, ECBs, etc., in one or more tranches.

Welspun India is one of the largest home textile manufacturers in the world. The company offers a wide spectrum of home & technical textile products and flooring solutions.

The company’s consolidated net profit rose 146.99% to Rs 180.77 crore on a 29.18% increase in sales to Rs 2,029.01 crore in Q3 FY21 over Q3 FY20.

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