Shares of Welspun Corp fell more than 6% on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal, with a promoter group entity and the company’s managing director and chief executive officer likely among the sellers.

The block deal was done at Rs 2,275.30 apiece, marking around a 3% discount to Welspun Corp’s previous closing price of Rs 2,345.50 apiece on NSE. The shares of the company dropped more than 6% after the block deal to Rs 2,203.70 apiece on Wednesday morning.

Welspun Investments and Commercials, part of the promoter group, was set to sell up to 60 lakh shares, while Vipul Mathur, managing director and CEO of Welspun Corp, was set to sell up to 3 lakh shares, according to deal terms seen by ET Markets.

The stake that changed hands in the block deal represents about 2.4% of Welspun Corp’s existing outstanding shares. The transaction was fully secondary, which means the company will not receive any proceeds from the sale. IIFL Capital Services is the sole broker and placement agent for the transaction.

Also read | Welspun Corp promoter group, CEO to sell up to Rs 1,417 crore stake via block deal

The block deal comes after a sharp run-up in Welspun Corp shares, which are up over 40% in just one month. The multibagger stock of 2026 has been one of the stronger performers in the industrial and pipe manufacturing space, helped by order visibility, energy infrastructure demand and investor interest in capital goods-linked themes. Promoter or management stake sales are closely watched closely by the market as they can affect near-term sentiment.

Welspun Corp shares have gained over 13% in a week and 180% in 2026 so far, delivering sharp returns for its shareholders. After hitting a 52-week low of Rs 710 apiece in February this year, the stock skyrocketed 243% in less than seven months to hit a 52-week high of Rs 2,434 apiece yesterday.

In the longer term, Welspun Corp shares have delivered stellar returns of 156% over one year, 604% in three years and a whopping 1,805% in five years.

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