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Welspun Enterprises shares tank nearly 7% post Q4 earnings

Welspun Enterprises shares tank nearly 7% post Q4 earnings

The stock touched an intraday low of Rs 110, falling 6.62% on BSE. The stock has lost 6.72% in two days

The share opened with a loss of 6.54%  at Rs 110.10 against previous close of Rs 117.80 The share opened with a loss of 6.54% at Rs 110.10 against previous close of Rs 117.80

Shares of Welspun Enterprises fell nearly 7 per cent after the company's consolidated net profit fell 54 per cent in Q4 . The stock touched an intraday low of Rs 110, falling 6.62% on BSE. The stock has lost 6.72% in two days. The share opened with a loss of 6.54%  at Rs 110.10 against previous close of Rs 117.80.

The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

The stock has gained 29.63% since the beginning of this year and risen 69% in one year.

 Total 1 lakh shares changed hands amounting to turnover of Rs 1.12 crore on BSE.

The stock dipped 6.62 per cent to Rs 110 on the BSE.

On NSE, the stock tanked 6.58 per cent to Rs 110.

The firm reported a 54 per cent fall in Q4 net profit to Rs 40.94 crore. The company clocked a consolidated net profit of Rs 89.08 crore in the corresponding quarter a year ago.

Total income during the January-March 2021 quarter rose to Rs 600.97 crore compared to Rs 515.70 crore in the year-ago period.

Total expenses during the quarter also increased to Rs 535 crore, from Rs 434 crore a year ago.