Welspun Corp board to meet next week to consider share buyback

Welspun Corp Ltd, the flagship firm of the Welspun Group, Friday said its board will meet next week to consider buyback of shares. A board meeting of the company will be held on May 14, 2019 "to consider proposal to buyback the fully paid-up equity shares of the company of face value of Rs 5 each," Welspun Corp said in a BSE filing. The company, however, did not elaborate on the matter. The board will also consider the financial results for the year ended March 31, 2019, and recommendation of dividend on equity shares for fiscal year ended March 31, 2019, the filing added.

Welspun Corp is among the largest welded line pipe manufacturing companies in the world. Shares of Welspun Corp were trading 2.96 per cent higher at Rs 144.15 apiece on BSE.