India's Welspun Corp rises as unit plans to set up manufacturing facility in Telangana

Welspun

26/09/2023 04:57

** Shares of Welspun Corp  WGSR.NS  rise as much as 2.8% to
400 rupees
    ** Co said on Monday its unit Sintex BAPL entered MoU with
the state government of Telangana to set up a manufacturing unit
with investment up to 3.5 bln rupees ($42.1 mln)
    ** Says project under state's incentive scheme and will
manufacture water tanks and pipes
    ** Adds unit plans to foray into pipes business through the
project
    ** Stock last up 2.3%, taking YTD gains to 68%
    
    ($1 = 83.1930 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))