Last year, Welspun entered into a business transfer agreement with Laptev Finance for the sale of the PCMD division.
Laptev is a JSW Group company.
On Wednesday, Laptev assigned all its rights and obligations under the BTA to JSW Steel. Accordingly, the PCMD Division is transferred to JSW Steel Limited w.e.f. March 31, 2021.
At around 2.28 pm, Welspun is trading at Rs145 per piece up 4.2%. Meanwhile, JSW Steel trades at Rs501.10 per piece higher by 7.11% on Sensex.