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Stock market news: Welspun Enterprises shares fall nearly 1%

NEW DELHI: Shares of Welspun Enterprises Ltd. traded 0.59 per cent down in Tuesday’s trade at 11:44AM (IST). Around 19,621 shares changed hands on the counter.

The counter opened at Rs 74.15 and touched an intraday high and low of Rs 76.65 and Rs 73.55, respectively, in the session so far. Shares of the company of Welspun Enterprises Ltd. quoted a 52-week high of Rs 100.1 and a 52-week low of Rs 33.35.

Total market cap of the Welspun Enterprises Ltd. stood at Rs 1133.71 crore at the time of writing this report.

Key Financials

The company reported consolidated net sales of Rs 190.04 crore for the quarter ended 30-Jun-2020, down 59.63 per cent from previous quarter’s Rs 470.71 crore and down 63.65 per cent from the year-ago quarter’s Rs 522.77 crore.

The net profit for latest quarter stood at Rs 19.8 crore, up 0.05 per cent from the corresponding quarter last year.

Shareholding pattern

As of 30-Jun-2020, domestic institutional investors held 1.36 per cent stake in the firm, while foreign institutional investors held 2.21 per cent and the promoters 50.26 per cent.

Valuation ratio

According to BSE data, the stock traded at a P/E multiple of 7.51 and a price-to-book ratio of 0.38. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Welspun Enterprises Ltd. belongs to the Infrastructure – Roads/Tolls industry.

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