Shares of Welspun India rose by over 3 per cent today after the Welspun Group said it would invest Rs 4,000 crore in three large textile projects in Gujarat.
The company's scrip gained 3.14 per cent to end at Rs 70.55 on BSE. Intra-day, it jumped 4.89 per cent to Rs 71.75.
At NSE, shares of the company went up by 3.15 per cent to close at Rs 70.40.
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In terms of volume, 2 lakh shares of the company were traded on BSE and over 13 lakh shares changed hands at NSE during the day.
Welspun India said in a BSE filing that three MoUs are being signed with the state government at the ongoing Vibrant Gujarat Summit 2017.
The group, which has presence in home textiles, line pipes and infrastructure, will invest Rs 2,000 crore in setting up an integrated textile manufacturing zone.
It will invest Rs 1,000 crore on capacity enhancement of its technical textile business, while a similar amount has been earmarked for its advanced textile arm that makes specialised materials for aerospace, defence and automobiles.
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