Buy Welspun Corp, target price Rs 160: Edelweiss

Edelweiss has buy call on Welspun Corp Ltd. with a target price of Rs 160. The current market price of Welspun Corp Ltd. is Rs 148.05.

Time period given by analyst is Intra Day when Welspun Corp Ltd. price can reach defined target.

Welspun Corp Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 3873.79 Crore) operating in Metals - Ferrous sector.


Welspun Corp Ltd. key Products/Revenue Segments include Welded Pipes, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1336.49 Crore, down -30.02 % from last quarter Total Income of Rs 1909.86 Crore and down -35.91 % from last year same quarter Total Income of Rs 2085.42 Crore. Company reported net profit after tax of Rs 94.78 Crore in latest quarter.

Investment Rationale
Follow through move to the rally from levels of 96. Volumes too are above average