India's Welspun Corp drops after weak FY25 outlook

Welspun

31/05/2024 08:48

** Shares of Welspun Corp  WGSR.NS  down around 8% to 550
rupees 
    ** Pipes and building material maker expects FY25 revenue
and EBITDA to fall around 2% and 6% respectively
    ** Stock set for its worst day in two years, if trend holds 
    ** Nearly 2.5 mln shares change hands by 12:50 p.m. IST,
around 3x their 30-day avg 
    ** Session's drop erases YTD gains, WGSR now up around 0.5%
in 2024 

($1 = 83.3275 Indian rupees)

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))