Welspun India surges nearly 20% but stays below buyback price

Welspun Living

02/05/2023 10:37

** Welspun India  WLSP.NS  rallies as much as 19.9% to new
52-wk high of 105 rupees in busiest day in over 5 years
    ** But stays below textile firm's stock buyback price of 120
rupees
    ** Nearly 44 mln shares traded in the stock's most active
session since Jan 2018
    ** Co approved a 1.95 billion rupees (~$24 mln) buyback of
shares at 120 rupees per share
    ** Six analysts covering the stock rate it "buy" on average;
median PT is 103 rupees - Refinitiv data
    ** Stock currently up 15.1%, taking YTD gains to 30.8%
 
 ($1 = 81.8530 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))