Welspun Enterprises hits 52-week high; stock up 15% in two days

The stock rallied 9% to Rs 117 extending its Tuesday's 6% gain on BSE on back of heavy volumes.

Welspun Enterprises hit 52-week high of Rs 117, up 9%, extending its Tuesday’s 6% gain on BSE on the back of heavy volumes.

Till 10:26 am; a combined 1.59 million equity shares exchanged hands against an average sub-one million shares that traded daily in the past two weeks on BSE and NSE.

Since May 30, the stock of construction & engineering company has outperformed the market by gaining 33% after reporting nearly four-fold jump in its standalone net profit at Rs 17.75 crore in March quarter. In comparison, the S&P BSE Sensex was down 1% during the same period.