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On the technical charts, the 200-day moving average of the stock stood at Rs 1422.56.

Welspun India Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 6432.26 Crore) operating in Textiles sector.

The Relative Strength Index of the stock stood at 49.44 on Wednesday.

The continent-wide STOXX 600 index rose 0.4% by 0715 GMT, with real estate leading morning gains.

Following the development, Aurobindo Pharma’s counter touched a 52-week low of Rs 581 on the BSE. The scrip had closed at Rs 603.05 on Tuesday.

A total of 167,876 shares changed hands on the counter till 02:09PM (IST)

“As a management team, we decided that given that it is a long-term compounding story, the markets will remember us for having a successful issue more than optimising value at this point in time. We have priced well and that is reflected in the quality of the anchor book that has been created, the number of long only funds – both domestic and foreign – which have come into the issue. We hope to see that through the main book and the rest of the issue.”

Yash Gupta- Equity Research Analyst, Angel One, suggests retail investors to wait for some time and let the dust settle down in the market. Long-term investors may look to add some positions in bank stocks, he added.

The Africa unit’s net finance costs in the March quarter increased 8% on-year but declined 8.2% sequentially to $112 million.

A total of 9,159 shares changed hands on the counter till 01:23PM (IST).