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Welspun Corp shares hit record high; co clarifies on stock price movement

Welspun Corp shares hit record high; co clarifies on stock price movement

Welspun Corp's stock traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).

Prashun Talukdar
Prashun Talukdar
  • Updated May 30, 2025 1:44 PM IST
Welspun Corp shares hit record high; co clarifies on stock price movementBourses BSE and NSE have sought clarification from Welspun Corp following the share price rise.

Shares of Welspun Corp Ltd (WCL) scaled their all-time level in Friday's trade, continuing the strong upward move for fifth straight session. The stock climbed 3.37 per cent to hit Rs 925.20. Last checked, it was up 3.22 per cent at Rs 923.80, gaining 20.68 per cent in the past five sessions.

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Bourses BSE and NSE have sought clarification from Welspun Corp following the share price rise. The company, in response, said, "We hereby clarify that there is no unpublished price-sensitive information/event that has become due for disclosure to the stock exchanges in terms of Regulation 30 of the Sebi Listing Regulations. The movement in the volume of shares of the company is market driven."

On the earnings front, Welspun Corp recorded over 143 per cent growth in consolidated net profit to Rs 699.19 crore in the January-March 2025 quarter, aided by a reduction in expenses. It had posted a net profit of Rs 287.28 crore in the corresponding year last fiscal. However, WCL's income slipped to Rs 3,966.86 crore in Q4 FY25 from Rs 4,543.70 crore in the year-ago period. During the quarter under review, the firm brought down its expenses to Rs 3,639.32 crore from Rs 4,292.37 crore in Q4 FY24.

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Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 76.86. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-earnings (P/E) ratio of 42.78 against a price-to-book (P/B) value of 6.61. Earnings per share (EPS) stood at 21.59 with a return on equity (RoE) of 15.46. According to Trendlyne data, Welspun Corp has a one-year beta of 1.4, indicating high volatility.

Welspun Corp operates in the manufacturing sector, producing both steel and plastic products. The company specialises in the production and coating of high-grade submerged arc welded pipes, as well as hot rolled steel plates and coils. Additionally, it provides services related to welded line pipes, ductile iron pipes, and stainless steel pipes, tubes, and bars.

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Promoters held a 50.01 per cent stake in the company as of March 2025.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 30, 2025 1:44 PM IST
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