Economy · India
Welspun Corp Shares Surge on Jefferies' Positive Coverage
Welspun Corp shares experienced a significant increase, jumping nearly 6% on the day following Jefferies initiating coverage with a 'Buy' rating and a target price of Rs 3,250. This target price implies a potential 27% upside. Jefferies cited a multi-year upcycle in energy infrastructure spending in the US and Saudi Arabia as a key factor, supported by Welspun's capacity expansion, a strong order book, and growing market presence. Over the past six months, Welspun Corp's stock has seen a 227% surge, with Jefferies projecting further potential gains.
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- Centre (6): Business Standard, Business Today, Mint, The Economic Times, The Financial Express, The Hindu BusinessLine