Stocks

CCI nod for division sale may boost Welspun Corp

| Updated on November 19, 2019 Published on November 19, 2019

 

Shares of Welspun Corp will remain in focus, as the Competition Commission of India has approved the company’s plan to sell plates and coils mills division to Laptev Finance for ₹848.50 crore. PCMD has been identified as a non-core asset and the company has entered into an agreement to divest it, Welspun had said. By selling the division, Welspun is expected to move towards an asset-light model to achieve improvement in its profitability and return ratios.

Published on November 19, 2019
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