Jefferies upgrades India's Welspun Living, starts Raymond Life at 'buy'

Raymond Lifestyle

09/09/2026 06:29

** India's textile sector is entering a structural growth cycle, supported by sourcing diversification beyond China and improved tariff competitiveness under free trade agreements with UK and US, says Jefferies
** Upgrades Welspun Living WLSP.NS to "buy" from "hold" and raises price target to 260 rupees from 125 rupees, implying an upside of 25%
** Initiates coverage of Raymond Lifestyle RAYL.NS at "buy" and PT of 900 rupees, potential upside of 29%
** Says WLSP is a leader in home textile space with strong franchises across bed and bath linen, flooring and is supported by improving industry dynamics, growth drivers
** Projects a 14% revenue CAGR over financial year 2026-2029
** Terms RAYL a value buy with strong turnaround potential; cites strong distribution network, fast-growth garmenting business and leadership in domestic branded textiles
** WLSP shares rise as much as 3.3%, last up 1%
** RAYL jumps to about 5% before reversing gains to decline 2% amid broad market slide .BO
** WLSP up 60.6%, RAYL down 35% YTD, according to exchange data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))