Welspun Corp Limited
American Funds (Capital Group) raised its stake in Welspun Corp Limited from 1.48% to 4.35%, increasing its holding by 75,73,588 shares to 1,14,68,251 shares. Earlier disclosed block deals account for 47,84,526 shares of this quarterly change.
One of the world's largest manufacturers of large diameter pipes, Welspun Corp produces steel billets, TMT rebars, ductile iron pipes, stainless steel pipes, tubes, and bars for diverse industrial applications. The company expanded into building materials through acquiring Sintex-BAPL, a market leader in water tanks and plastic products. It also made a strategic acquisition of specified assets from ABG Shipyard to strengthen its industrial presence.
India equity holdings of American Funds, the mutual fund family of Capital Group. Long-only, fundamentally driven strategy.