Welspun Corp shares fell sharply on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal. Promoter group entity Welspun Investments and Commercials and CEO Vipul Mathur were likely sellers. The transaction represented about 2.4% of the company’s outstanding shares and came after a sharp rally.
Welspun Corp shares fell sharply on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal. Promoter group entity Welspun Investments and Commercials and CEO Vipul Mathur were likely sellers. The transaction represented about 2.4% of the company’s outstanding shares and came after a sharp rally.
<iframe src="https://hindustansphere.com/embed/cluster/b4cfa6fed0bea3c12f726013f7711aefdb5b69d9" width="100%" height="320" style="border:0;max-width:680px" loading="lazy" title="Welspun Corp shares drop 6% after CEO, promoter group likely sell stake worth Rs 1,433 crore via block deal"></iframe>
Shares of Welspun Corp fell more than 6% on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal, with a promoter group entity and the company’s managing director and chief executive officer likely among the sellers.The block deal was done at Rs 2,275.30 apiece, marking around a 3% discount to Welspun Corp’s previous closing price of Rs 2,345.50 apiece on NSE. The shares of the company dropped more than 6% after the block deal to Rs 2,203.70 apiece on Wednesday morn…
