Welspun Gujarat Stahl Rohren, the Rs 40 billion high-grade steel pipes maker, is learnt to have deferred a Rs 50 billion backward integration plan due to weak macro-economic conditions, reports Economic Times.

It is learnt that the Welspun group had a board meeting to discuss strategic issues following the adverse global developments.

The company said that with the problem across all sectors, everyone is revising their expansion plans in this financial turmoil. However Welspun is still waiting for the regulatory approval for their recent acquisition of Vikram Ispat that is expected to be completed in the next three months and only then can they think of other programs.

Shares of the company closed up Rs 0.9, or 0.84%, at Rs 108. The total volume of shares traded at the BSE was 368,063 (Friday).