Buy Welspun India, target Rs 128: SMC Research

SMC Reserach has recommended a buy on Welspun India at target price of Rs 128.

The company has ambitious plans to raise its revenue to $5 billion by 2020, with its flagship textile business, which is expected to contribute half of its income. The Company has a strong emphasis on innovation which is reflected in the number of patents and trademarks, which it holds and has applied for.

More than 30 per cent of the total revenues of Welspun India comes from the innovative products developed by the company.