{"id":110728,"date":"2023-09-26T12:25:30","date_gmt":"2023-09-26T06:55:30","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110728"},"modified":"2023-09-26T12:25:36","modified_gmt":"2023-09-26T06:55:36","slug":"stock-in-green-after-company-signs-mou-with-the-telangana-state-govt-worth-up-to-350-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-in-green-after-company-signs-mou-with-the-telangana-state-govt-worth-up-to-350-cr\/","title":{"rendered":"Stock in green after company signs MoU with the Telangana State Govt worth up to \u20b9 350 Cr\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3534103742\"><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 this steel stock under the \u2018small-cap\u2019 category soared 2 percent in Tuesday\u2019s trading session after entering into an MoU with the Telangana State Government for setting up a manufacturing plant in the state. The company\u2019s scrip is inching toward its 52-week high level.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2172192859\"><!-- 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>With a market capitalization of Rs 10,358.08 crores, the stocks of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/WELCORP\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Welspun Corp Limited<\/a><\/strong> opened their trading session on Tuesday at Rs 400.95 and currently trade at Rs 395.85 indicating a gain of around 2 percent as compared to the previous close of Rs 388.70 apiece.\u00a0<\/p><p>Such bullish movements in the company\u2019s shares were observed after a BSE filing published by the company on September 25th 2023 pertaining to \u2018Sintex BAPL\u2019, a wholly owned subsidiary of Welspun Corp Limited, entering into a Memorandum of Understanding (MoU) with the Telangana State Government.&nbsp;<\/p><p>The MoU consists of a project wherein the subsidiary company will set up a manufacturing unit for water tanks and pipes in Telangana with an investment of up to Rs 350 crores. The proposed project is under the \u2018incentive scheme\u2019 of the state government.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2899177536\"><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>\u201cAs a group we have been running our operations in the state already and this project will create further employment in the state. Sintex is an iconic brand for its water tanks and foray into PVC pipes segment will strengthen our presence into the building material verticals further.\u201d, <strong>commented Mr. B. K. Goenka, Chairman, Welspun Group.&nbsp;<\/strong><\/p><p>During the past couple of financial quarters, the company has been able to maintain their operating revenues at levels of Rs 4,070 crores. On a contrasting note, the bottom-line numbers, due to increased input costs, have reduced from Rs 211.5 crores to Rs 180.4 crores keeping the timeframe the same.&nbsp;<\/p><p>As per the latest shareholding data for the quarter ended June 2023, the company\u2019s Promoters hold a 49.99 percent stake, and the Foreign Institutional Investors (FIIs) hold a 7.77 percent stake in the company.&nbsp;<\/p><p>Welspun Corp Limited is a company based in India that is engaged in the production and coating of hot rolled steel plates, coils, high-grade submerged welded pipes, etc. Some of the products offered by the company include longitudinally welded pipes, coating systems, high-frequency electric welded pipes, and many more.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/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-577671536\"><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 this steel stock under the \u2018small-cap\u2019 category soared 2 percent in Tuesday\u2019s trading session after entering into an MoU with the Telangana State Government for setting up a manufacturing plant in the state. The company\u2019s scrip is inching toward its 52-week high level.&nbsp; With a market capitalization of Rs 10,358.08 crores, the stocks [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13572,"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":[948,936,12453,12455,12452,12454],"class_list":["post-110728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news","tag-welspun-corp-latest-news","tag-welspun-corp-mou-with-govt","tag-welspun-corp-share-price","tag-why-is-welspun-corp-share-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 in green after company signs MoU with the Telangana State Govt worth up to \u20b9 350 Cr\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this steel stock under the \u2018small-cap\u2019 category soared 2 percent in Tuesday\u2019s trading session after entering into an MoU with the Telangana State Government for setting up a manufacturing plant in the state. 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