Welspun India climbs on capex expansion

Welspun India is investing Rs 600 crore for setting up a facility for manufacturing carpets, area rugs and carpet tiles, marking the leading global home textile firm’s foray into flooring solutions segment. The company is expanding its product portfolio through its plant at Anjar. It will invest Rs 180 crore in Phase I.

Welspun India’s facility will have an annual capacity of approximately 7 million square metres. The flooring solutions has immense potential as a growing business. The company plans to export 50 per cent of the products from the unit and remaining will be sold in the domestic market.

Welspun India has also set up a Rs 100 crore worth 30 MLD (million litres per day) waste water treatment facility at Welspun City, Anjar in Kutch district. The unit will recycle and treat the waste water generated in Anjar and the Gandhidham-Adipur belt. Welspun will reuse the water obtained after biological treatment, ultra-filtration and RO processes for its production activities.

The share price of Welspun India has increased by 1.08 per cent on bourses in early trades; and is trading at Rs 69.65 on an intraday basis.