{"id":102286,"date":"2023-05-02T14:56:00","date_gmt":"2023-05-02T09:26:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102286"},"modified":"2023-05-02T14:54:12","modified_gmt":"2023-05-02T09:24:12","slug":"stock-jumps-16-to-touch-52-week-high-after-board-approves-share-buyback-worth-195-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-16-to-touch-52-week-high-after-board-approves-share-buyback-worth-195-cr\/","title":{"rendered":"Stock jumps 16% to touch 52 week high after board approves share buyback worth 195 Cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2755298751\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Stocks of Welspun India Limited spiked nearly 16 percent today and currently trade at Rs 101.40. It touched the 52-week high mark at a price of Rs 105. The stock, in the past month, has delivered around 50 percent returns to its stakeholders ranging from Rs 67.40 to the current levels.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-564995148\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>One of the probable reasons for the stock prices to surge today is the recent announcement made by the company through a regulatory filing with the exchange.&nbsp;<\/p><p>The filing mentioned that the company\u2019s Board has approved the Buyback proposal of 1,62,50,000 fully paid-up equity shares at a price of Rs 120 per share indicating a premium of 18 percent to the current levels. The record date for the same has been fixed to be 10th May 2023.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/WELSPUNIND\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Welspun India Limited<\/a><\/strong>, based in India, is engaged in the process of making and selling home textiles. The product portfolio of the company consists of towels, bath rugs and mats, bath robes, bed sheets, carpets, etc.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-2525213473\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>It has a worldwide distribution network, with the major markets being Europe, the United Kingdom, and the United States. The company, apart from the domestic operations within India, also has a presence in emerging markets such as the Middle East, and China.&nbsp;<\/p><p>Having a quick glance at the financials of the company, the revenue from operations of the company saw a movement from Rs 1,869 crores in the December quarter to Rs 2,154 crores in the March quarter. Moreover, the net profit figures, during the same period, nearly tripled from Rs 44 crores to Rs 129 crores.&nbsp;<\/p><p>The profitability metrics of the company such as the net profit margin took a shift downwards from 6.52 percent in FY21-22 to 2.50 percent during FY22-23. On a contrasting note and for the good, the debt to equity ratio has reduced from 0.78 to 0.56 during the same period.&nbsp;<\/p><p>As per the latest shareholding data available for the March quarter, promoters of the company hold a 70.36 percent stake, and the Foreign Institutional Investors (FIIs), consistently reducing their stake in the past quarters, hold a 5.8 percent stake in the company.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1616664857\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Stocks of Welspun India Limited spiked nearly 16 percent today and currently trade at Rs 101.40. It touched the 52-week high mark at a price of Rs 105. The stock, in the past month, has delivered around 50 percent returns to its stakeholders ranging from Rs 67.40 to the current levels.&nbsp; One of the probable [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8797,936,8922,8919,8920,8918,8921],"class_list":["post-102286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-latest-stock-market-news","tag-stock-market-news","tag-welspun-india-at-52-week-high","tag-welspun-india-latest-news","tag-welspun-india-share-buyback-2023","tag-welspun-india-share-price","tag-why-is-welspun-india-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps 16% to touch 52 week high after board approves share buyback worth 195 Cr - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Stocks of the company spiked nearly 16 percent today and currently trade at Rs 101.40. 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