Welspun India hits 1-yr high as qrtly profit doubles

Welspun Living

27/04/2023 10:30

** Shares of Welspun India Ltd  WLSP.NS  rise as much as
3.4% to 89 rupees, highest since April 2022
    ** Textile manufacturer's March-qtr consolidated net profit
more than doubled y/y, helped by a fall in input costs
    ** Stock continues trading above its 50-, 100-, and 200-day
moving averages
    ** Trading volume at ~4 mln shares, over 2x the 30-day avg
as of 2:40 p.m. IST 
    ** Average rating of six analysts covering stock close to
equivalent of 'buy'; median PT is 77 rupees - Refinitiv data
    ** Up to last close, stock was up 11.6% so far this year

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))