Since 12 August, the Welspun stock is down 47% until 12.10pm on Thursday, losing over Rs. Mumbai: It’s getting knottier for Welspun India Ltd, which is set to face two class-action lawsuits in US federal courts. Subsequently, even Wal-Mart has said that it will stop the procurment the Egyptian cotton bedsheets from Welspun. A Welspun representative did not respond to a request for comment on Thursday till the filing of this report. Since 12 August, the Welspun stock is down 47% until 12.10pm on Thursday, losing over Rs.5,078.89 crore in market capitalization.

Source: Mint September 15, 2016 06:35 UTC