India's Welspun Living rises after Jefferies initiates coverage with 'buy'

Welspun Living

05/06/2025 07:11

** Textile manufacturer Welspun Living WLSP.NS rises 3.8% to 139 rupees

** Jefferies initiates coverage of the stock with 'buy', PT at 185 rupees - implying 33% upside to current price

** Says, WLSP would be a key beneficiary of India's potential trade deals with the U.S. and EU

** The U.S. is WLSP's largest market; the co has marquee clientele that includes Walmart and Costco and deep integration - Jefferies

** Adds, although tariffs are a near-term headwind, WLSP is still better placed due to lower tariffs on India

** Jefferies expects WLSP to also benefit from diversifying to new categories such as advanced textiles and flooring, as its emerging segments are clocking faster revenue growth than its core home textile segment

** WLSP rated 'strong buy' on average by 8 analysts; median PT at 185 rupees - LSEG data

** WLSP shares up ~7% in the last 12 months, including session's gains

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))