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Shares of Welspun Corporation saw a rise for the second day in a row on Thursday. Currently, the stock is trading at Rs 258.65, up 2.36 per cent on the NSE. In two trading days, the share price of the company has increased by 9 per cent. Investors are showing interest in this stock in view of the company’s plan and target for the financial year 2023-24.
This is the target of the company regarding the financial year 2024
In FY24, Welspun Corp aims to achieve a topline of Rs 15,000 crore with a robust growth of around 50 per cent. In addition, the company’s target for EBITDA is Rs 1,500 crore, which reflects an expected growth of around 90 per cent. The company aims to improve its Return on Capital Employed (ROCE) to 16 per cent or over 7 per cent in FY23.
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What is the opinion of experts
According to Bloomberg data, 6 analysts have a ‘Buy’ rating on the stock. At the same time, an analyst has advised to ‘Hold’ it. Meanwhile, there are no analysts who have given a ‘Sell’ recommendation on Welspun Group shares.
Welspun Corporation achieved global line pipe sales of over 1 million metric tons in fiscal year 2023, the 8th time in the last 10 years. The company has a strong pending order book of 11 Lakh MT valued at Rs 14,600 crore.
about the company
Welspun Corp is the flagship company of the Welspun Group, one of India’s fastest growing multi-national companies. The company is in leadership position in Line Pipe and Home Textile. Apart from this, its business is also in infrastructure, warehousing, retail, advanced textile and flooring solutions. The company is one of the largest manufacturers of large-diameter pipes globally.
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