Trend

Bulking up

Welspun Corp promoters continue to build on their holdings

Welspun Corp, the world’s largest welded pipeline manufacturing firm and the flagship of Welspun group, is facing some tough times. Over the past one year, while the benchmark Sensex has gained 19%, the stock has headed south — falling 22%.

Over the past five financial years, profits of Welspun Corp have declined from Rs. 140 crore in FY13 to Rs. 26 crore in FY17. Besides, the firm was also slapped with a tax demand notice of Rs.100 crore regarding its manufacturing unit in Anjar, Gujarat. The company, chaired by Balkrishan Goenka h

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