Welspun India at 1-yr high on share buyback, div consideration

Welspun Living

25/04/2023 06:09

** Shares of Welspun India Ltd  WLSP.NS  rise as much as
4.70% a near 1-year high of 86.90 rupees, extending April rally
    ** Textile products maker to consider share buyback and FY23
dividend at April 27 board meeting, when it also reports results
    ** Trading vol of 2-mln-plus shares tops 30-day avg
    ** Stock has rallied ~34% in April, set for its best month
since July 2021
    ** However a 4-month losing run before that means the stock
is up only ~11% so far this year
    ** Six analysts split equally between 'buy' and 'hold' on
WLSP - Refinitiv data
    ** Stock has been trading above analysts' median TP of 77
rupees since April 13

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