Welspun India Ltd up by 15.12 percent | Espresso

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Espresso Shot of the Day - Welspun India Ltd up by 15.12 percent

May 02, 2023
Espresso Shot of the Day - Welspun India Ltd up by 15.12 percent

WELSPUN INDIA LTD 100.89 (+15.12%) BSE – INE192B01031 | 2nd May2023

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Welspun has successfully forayed across businesses like home textiles, advanced textiles, flooring solutions, retail, infrastructure, warehousing, line pipes, DI pipes, stainless steel & alloy, pig iron, TMT rebars and more. Keeping customer-centricity at the core, company has a presence in 50+ countries with a team of 26,000+ committed employees. Company’s comprehensive and ever-expanding global presence enables it to leverage its business associations with a marquee of esteemed clients, especially in sectors like retail and Oil & Gas. Welspun is one of India's fastest-growing global conglomerates. With 'Har Ghar Welspun' at the heart of company’s culture, the company is amongst global leaders in markets like U.S.A, Saudi Arabia, Europe and in India.


Recent Drivers

  • On May 2,2023, Shares of Welspun India Ltd rallied over 12 per cent in trade after the company announced a buyback offer along with its earnings for the March quarter.
  • Welspun India's board of directors approved a buyback proposal worth Rs 195 crores on April 27,2023. Under the offer, the company would buy back up to 1.62 crore shares at a price of Rs 120 per share. The company has decided that May 10,2023 would be the record date to ascertain the eligibility of shareholders for the buyback. Buyback will be carried out via tender offer route.
  • On April 27,2023, Welspun India Ltd reported a quarterly net profit of Rs. 77.16 crores in March 2023, up 87.69% from the Rs. 41.11 crores reported in March 2022.
  • On April 27,2023, Welspun India Ltd reported a quarterly net sale of Rs. 1,365.78 crores in March 2023.
  • The Board recommended, subject to approval of shareholders, a final dividend of Rs. 3.75/- per equity share of the face value of Rs. 5/- each and special dividend of Rs. 1.25/- per equity share of the face value of Rs. 5/- each for the financial year ended March 31, 2023.
            (Sources: Exchange, Money control, Business Standard)­


Technical Force*

  • S&P BSE 500 month till date gain by 2.53%.
  • Traded on new 52 Week High value 104.90
  • Spurt in Volume by more than 15.00 times.
  • 3 months avg. BSE volume: 1,75,850
  • Quantity traded: 35,06,600| Deliverable quantity: 12,44,843 (35.50%).
  • Stock price jumped by more than 60 % from a one-year low level: 62.20 (March 29, 2023)
  • Daily RSI (14) is in overbought territory today.
  • 52-week-high: 104.90| 52-week-low: 62.20


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

234.92

197.43

137.27

99.78

39.62

2.13

-

-

Fibonacci Pivot

197.43

160.13

137.09

122.24

99.78

77.32

62.48

39.44

2.13


Today’s Close

100.89

SMA

BSE

10 DAY

85.96

20 DAY

79.33

50 DAY

72.33

200 DAY

74.72


Some Key Ratios (Source: BSE)

Market Cap:  9,127.77 Crores

PE: 65.72

OPM%: 14.13

ROE%:  4.29

Promoters holding%: 70.36.

Prev. Close:  87.64


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The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Espresso Financial Services Pvt. Ltd bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Espresso Financial Services Pvt. Limited is under no obligation to update the information in this document from time-to-time.

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.