Reblog: How long does it take to discover Welspun India’s new worth?
The original article appeared in LiveMint on August 26, 2016 and can be found here.
In four trading sessions, Welspun India’s market valuation came down to Rs. 5,700 cr. If there were no circuit filters, we would have known this within minutes on Monday.
Late last week, Target Corp. said it will end its business relationship with Welspun India Ltd, stating it had received bedsheets where Egyptian cotton was substituted with a cheaper variant.
When stock market trading resumed on Monday, it was clear Welspun India wasn’t worth the Rs.10,370 crore valuation it enjoyed until the prior week. But how much was it now worth?