Buy Welspun India, target price Rs 122: Yes Securities

Yes Securities has buy call on Welspun India with a target price of Rs 122. The current market price of Welspun India Ltd. is Rs 114.

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

Welspun India Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 11458.89 Crore) operating in Textiles sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2173.56 Crore, up 6.04 % from last quarter Total Income of Rs 2049.71 Crore and up 30.59 % from last year same quarter Total Income of Rs 1664.46 Crore. Company reported net profit after tax of Rs 134.28 Crore in latest quarter.

Investment Rationale
Welspun India continues to trace out bullish patterns. Positive breakthrough above prior week’s high on a comparatively higher volume warrants a positive outlook for the stock.