 "Welspun India and Birlasoft rewarded investors by doubling wealth in 2021")
Investors in Welspun India and Birlasoft have been rewarded with healthy returns in 2021, as their invested sums have doubled in value.
Shares of Welspun India rose from Rs 68 at the start of the year to Rs 142 at Wednesday's close.
Founded in 1985, Welspun India is into the textile business. The company exports textile products to more than 50 countries.
The Centre's production-linked incentive for the textile sector apparently attracted investors towards Welspun India.
On September 8, the Union Cabinet approved the scheme for the sector with an estimated budget outlay of Rs 10,683 crore.
Through the scheme, the government aims to provide a boost to the man-made fibres and technical textiles segments by promoting industries that invest in the production of some specialised products.
In the case of Birlasoft, share price rose from Rs 249 at the start of the year to Rs 501 on Wednesday's close.
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The recent uptrend in IT stocks, led by Covid-induced behavioural changes across the board, lent reasonable support to its shares.
Founded in 1990, the company deals in IT and allied services.
--IANS
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