Welspun Living Ltd has become one of the favourites among the investors as the company’s stock has more than doubled investors’ money in the last one year. The midcap stock has recently caught the attention of both foreign institutional investors (FIIs) and domestic retrial investors.
In the December quarter, the shareholding by FIIs in the company increased from 6.33 per cent to 7.25 per cent. Notably, seasoned investor Akash Bhansali has been consistently increasing his ownership in the stock every quarter since 2022.
In the last one year, Welspun Living Limited shares have seen nearly 120 per cent surge in value.
The company’s market capitalisation stands at over Rs 14,500 crore. The stock’s 52-week high is Rs 170.25 and the 52-week low is Rs
62.20 per share on BSE.
The textile major has given over 125% return in the last three years. The share price of Welspun Living Limited has gained nearly 4% in the last one month.
Shares of Welspun Living surged over 14 per cent on Monday to hit an intraday high of Rs 156.85 apiece on BSE. However, the stock pared some of its gains and closed 9.31 per cent higher at Rs 150.25 apiece on BSE maintaining its upward swing for the second straight day.
The multibagger stock is also witnessing a consistent rise in inflows from the foreign institutional investors (FIIs). In recent months, FIIs have steadily increased their ownership in the company. Trend line data for the quarter ending December 2023 reveals that FIIs/FPIs increased their stake in Welspun Living from 6.33 per cent to 7.25 per cent. The company’s promoters hold 70.50 per cent of shares while public shareholding stands at 15.52 per cent. Mutual funds have a 2.03 per cent stake in the company.
Well-known investor Akash Bhansali, holds 14,220,781 shares, representing 1.5 per cent stake of the company. The total shareholding of Bhansali is valued at Rs 195.30 crore.
Over the past twelve months, Welspun Living shares have delivered substantial returns to investors. The stock, priced at Rs 68.40 on January 27, 2023, has now surpassed Rs 150 level, as of January 29, 2024. This means an investment of Rs 1,00,000 in the company a year ago would have turned into nearly Rs 2.2 lakh today.
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