Welspun India hits over 1-yr high on Q1 profit jump

Welspun Living

31/07/2023 10:14

** Shares of Welspun India Ltd  WLSP.NS  rise as much as
10.7% to 111 rupees, highest since March 14, 2022
    ** Textiles manufacturer says June-qtr consolidated net
profit rose more than seven times y/y to 1.62 bln rupees ($19.69
mln); revenue rose 11% 
    ** Trading volume at ~12 mln shares, 4.6x the 30-day avg of
~2.6 mln shares as of 2:30 p.m. IST 
    ** Average rating of six analysts covering stock equivalent
to 'buy'; median PT is 109 rupees - Refinitiv data
    ** Stock last up 41% YTD 



($1 = 82.2560 Indian rupees)

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