 "Welspun Enterprises gains on share buyback plan")
Welspun Enterprises has moved higher by 12% to Rs 66.65 on the BSE in intra-day trade after the company said the board will meet on December 22, 2016, to consider the option to buy back the equity shares of the company.
Thus far in calendar year 2016, the stock of construction & engineering company had underperformed the market by 7% as compared to 1% gain in the S&P BSE Sensex till Monday.
At 11:46 am; the stock was up 9% at Rs 65 on the BSE on back four-fold jump in trading volumes. A combined 888,708 shares changed hands on the counter on the BSE and NSE.
Thus far in calendar year 2016, the stock of construction & engineering company had underperformed the market by 7% as compared to 1% gain in the S&P BSE Sensex till Monday.
At 11:46 am; the stock was up 9% at Rs 65 on the BSE on back four-fold jump in trading volumes. A combined 888,708 shares changed hands on the counter on the BSE and NSE.