Welspun Corp jumps 5% on strong Q3 earnings

The stock has hit a high of Rs. 74.55 and a low of Rs. 70.10.

Jan 29, 2015 04:01 IST India Infoline News Service

Welspun Corp
Welspun Corp opened with a surge of 6% at Rs. 72 after the company reported strong set of earnings for the quarter ended December 2014.

The booked consolidated net profit of Rs. 17.49 crore for the third quarter ended December 2014, as against Rs. 7.51 crore in a year ago period. Total income also increased by 28.5 per cent to Rs. 2,279 crore from Rs. 1,774 crore.

The stock so far has zoomed 9.8% to touch a high at Rs. 74.55. Now, the stock has pared some of its earlier gain, but still is up 4.9% at Rs. 71.25.

On the BSE counter, so far, 177,000 shares are traded, as against its two-week daily average volume of 26,000 shares.

Meanwhile, the Sensex has moved down 130 points at 29,429.

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