Welspun Corp Shares Jump 6% After Jefferies Initiates Coverage with Buy Rating. Should You Invest?

Welspun Corp shares jump 6% after Jefferies initiates coverage with Buy rating. Should you invest?

Welspun Corp shares jumped nearly 6% after Jefferies initiated coverage with a Buy rating and a Rs 3,250 target price, implying 27% upside. The brokerage sees a multi-year upcycle in US and Saudi energy infrastructure spending, supported by Welspuns capacity expansion, strong order book and growing overseas operations.

Welspun Corp's US-Saudi Bet Takes Centre Stage; Jefferies Initiates with 'Buy' — Check Upside Here

The brokerage expects the welded line pipe maker to deliver a 33% EPS CAGR over FY2629E, supported by capacity additions, a strong order book and a favourable shift towards higher-margin overseas business.