This stock under Rs 100 topped the turnover and the value traded on NSE and BSE on Wednesday. Shares of this company jumped as much as 12%, following a sharp rise in share prices, this company added more than Rs 900 crore in market capitalisation.
Shares of Welspun India Ltd topped the exchange turnover and the value traded on Wednesday on NSE and BSE. Share prices of Welspun India jumped over 12% in Wednesday’s trade taking the stock to crest the stock exchange turnover. Earlier yesterday, Welspun India said that company has incorporated a subsidiary called Welspun Nexgen Inc to foray into ecommerce investing. “The Company has incorporated a wholly owned subsidiary viz. Welspun Nexgen Inc., registered with the state of Delaware, USA, having paid-up capital of US$ 4.25 million for making investments in ecommerce companies,” Welspun India said in an exchange filing.
In today’s trades, shares of Welspun India zoomed as much as 12.4% to the day’s high of Rs 82.5 on NSE. The stock of Welspun India opened marginally higher at Rs 75, up 2.17% from the Tuesday’s close of Rs 73.4 on NSE. A huge trading volume has been observed in the shares of Welspun India, as at 11:15 am, about 9 crore shares exchanged hands on both NSE and BSE with more than 8.1 crore shares on NSE alone. Welspun India is a component of Nifty 500 and BSE 500 indices respectively. With a huge appreciation in the stock prices, Welspun India added as much as Rs 910.97 crore to Rs 8,304.46 crore in the market capitalisation from yesterday’s Rs 7,393.49 crore.
Meanwhile, India’s stock market extended the gains in the morning trade for the sixth straight day on Wednesday with Sensex and Nifty hitting all-new lifetime highs on the back of value buying ahead of major Q3 earnings beginning from tomorrow. BSE Sensex gained 95.59 points to start at 34,538.78 and NSE Nifty added 15.05 points to open at 10,652.05, both the key indices marked their respective opening record highs today. Shares of heavyweight companies such as Coal India, Bharti Airtel, ONGC, Sun Pharma, Reliance Industries, ITC were the major gainers among the Sensex stocks. The benchmark Sensex rose as much as 122.44 points to hit a fresh record high of 34,565.63 while the wider share indicator Nifty jumped 18.5 points to hit a fresh lifetime peak at 10,655.5. However, in the wee hours of trading, both the benchmark indices fell into negative territory following a little caution over third-quarter corporate earnings.