{"id":103769,"date":"2023-06-05T15:30:00","date_gmt":"2023-06-05T10:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103769"},"modified":"2023-06-05T16:24:00","modified_gmt":"2023-06-05T10:54:00","slug":"textile-stock-jumps-up-to-8-50-after-it-announces-closure-of-buyback","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/textile-stock-jumps-up-to-8-50-after-it-announces-closure-of-buyback\/","title":{"rendered":"Textile stock jumps up to 8.50% after it announces closure of buyback"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1522022846\"><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>Shares of Welspun India Limited are currently trading at Rs 98.90. The scrip witnessed an intra-day high of Rs 104.60, indicating a gain of about 8.50 percent as compared to the previous closing price of Rs 96.45. The company has a market capitalization of Rs 9,771 crores.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4096257508\"><!-- 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>Such movements in the stock prices are observed after the company, through a filing with the exchange, announced the closure of the buyback of 1,62,50,000 equity shares of Face Value of Rs 1 each at a price of Rs 120 per share aggregating to Rs 195 crores. The company extinguished the above-mentioned shares.&nbsp;<\/p><p>Welspun India Limited is a company based in India that is engaged in the process of making and selling home textiles. It\u2019s product portfolio consists of bath robes, towels, carpets, etc. The company owns several brands including welhome, christy, spaces, and others.&nbsp;<\/p><p>The company has a wide distribution network with the United Kingdom, the United States, and Europe being the major markets.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1463467537\"><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>Having a glance at the financials reported by the company, the operating revenues showed some improvement taking a shift from Rs 1,869 crores during Q3FY22-23 to Rs 2,154 crores in Q4FY22-23. Moreover, the company\u2019s net profits, keeping the horizon the same, increased almost 193 percent taking a shift from Rs 44 crores to Rs 129 crores.&nbsp;<\/p><p>The profitability metrics, due to cost pressures, have taken a hit with the return on equity (ROE) reducing from 15.13 percent during FY21-22 to 4.86 percent in FY22-23 and the return on capital employed (ROCE), during the same period, moved from 17.03 percent to 7.21 percent.&nbsp;<\/p><p>The debt-to-equity ratio of the company, on a positive note, has been favourable showing a reduction from 0.80 times during FY21-22 to 0.57 times in FY22-23.&nbsp;<\/p><p>According to the latest shareholding data available for the March 2023 quarter, Promoters have a \u2018skin in the game\u2019 with 70.36 percent holdings, and Foreign Institutional Investors (FIIs) hold a 5.8 percent stake in the company.&nbsp;<\/p><p><strong>Written by Amit Madnani<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2347646591\"><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>Shares of Welspun India Limited are currently trading at Rs 98.90. The scrip witnessed an intra-day high of Rs 104.60, indicating a gain of about 8.50 percent as compared to the previous closing price of Rs 96.45. The company has a market capitalization of Rs 9,771 crores.&nbsp; Such movements in the stock prices are observed [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12545,"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":[4865,31],"tags":[],"class_list":["post-103769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"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>Textile stock jumps up to 8.50% after it announces closure of buyback - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of Welspun India Limited are currently trading at Rs 98.90. The scrip witnessed an intra-day high of Rs 104.60, indicating a gain of about 8.50 percent as compared to the previous closing price of Rs 96.45. The company has a market capitalization of Rs 9,771 crores.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/textile-stock-jumps-up-to-8-50-after-it-announces-closure-of-buyback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Textile stock jumps up to 8.50% after it announces closure of buyback\" \/>\n<meta property=\"og:description\" content=\"Shares of Welspun India Limited are currently trading at Rs 98.90. The scrip witnessed an intra-day high of Rs 104.60, indicating a gain of about 8.50 percent as compared to the previous closing price of Rs 96.45. 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