Thu, Sep 15, 2016
Welspun shares have dropped as much as 3.2% on Sensex on Thursday after two class-action lawsuits worth over $5 million each were filed against it in the US. Currently, the shares of the company are trading down 2.69% or Rs 1.55, at Rs 56.10 per piece at 1131 hours.
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Fri, Aug 26, 2016
Welspun India on Friday said it has appointed consultancy firm Ernst & Young (EY) to look into alleged lapses in its products supply after the US-based Target Corporation terminated contract with the textiles maker.
Thu, Aug 25, 2016
The problem for Welspun India has already gone beyond Target Corp. Several retailers, as mentioned above have already started questioning their credibility and have either launched or are planning to launch an audit into their products.
Welspun India is appointing an external auditor 'one of the Big Four' to look into alleged lapses in its products supplied to clients and expecting the process to get completed in about six to eight weeks, as US-based Target Corp terminated contract with the textiles maker.
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