Welspun India to discuss share buyback, dividend during April 27 meeting

Despite closing down 0.49% At 83.06 on Monday, the company’s shares have been rallying since the announcement of the board meeting date to declare Q4 results. The market capitalization of the company was 7,514.65 crore on BSE on Monday. To prevent insider trading, it has closed the trading window for all designated persons, insiders and their relatives.

“You are informed that in addition to the financial results for the quarter and year ended March 31, 2023, the Board of Directors will, inter alia, consider the following agenda items at its meeting to be held on Thursday i.e. April 27, 2023: 1. Buyback of equity shares of the company; 2. Recommendation of dividend for the year ending March 31, 2023,” the company said in its stock filing.

In pursuance of the “Code of Practices for Fair Disclosure of Unpublished Price Sensitive Information (“UPSI”) and conduct of regulation, monitoring and reporting of trading by insiders of Welspun India Limited, Trading Window Company for dealing in securities April 1, Already closed for all insiders including Designated Persons and their immediate relatives from 2023 and will open 48 hours after the announcement of unaudited financial results for the quarter and year ended March 31, 2023.

Welspun India announces fourth quarter results

Apart from announcing the details of share buyback and dividend, Welspun India will also announce its Q4 FY2023 results on April 27. 51.98 crore in the quarter ended December. 7.84 cr in Q2Fy23. However, its net revenue grew by 10 per cent 1,378.09 crore in Q3FY23 from 1,529.61 crore in Q2FY23.

The share price of the company has gained 8.29 percent YTD. At the same time, its share value has decreased by 7.66 per cent in the last one year.