Welspun Corp Limited
Aditya Birla Sun Life Mutual Fund decreased its stake in Welspun Corp Limited from 2.07% to 1.69% by selling 998,832 shares. The sale was valued at ₹171.3 Cr based on the share price of ₹1715.30.
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.
Joint venture between Aditya Birla Capital and Sun Life Financial of Canada. Among India's top five AMCs with over Rs 6.5 lakh crore in AUM across 100+ schemes. MD and CEO A. Balasubramanian is one of the most outspoken fund industry voices in India. CIO Mahesh Patil oversees the equity book with a consistent large and multicap tilt.