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  Welspun India   (Stocks)  
Good results from a good company
The company belongs to the well managed Welspun group. Although Welspun India is the flagship company of the group,it is Welspun Gujarat Stahl Rohren Limited that is the most well known in the group.

After almost a decade of bad performance, fortunes seems to be improving for textile companies. It has to be textile stocks from well managed groups that lead the textile pack on the road to recovery.

Welspun India has reported continuously rising sales and net profits for the last three quarters. The EPS for September 09 quarter of Rs. 5.71 makes the TTM EPS of Rs.13.87.

It may not be difficult for the company to post a full year EPS of Rs.20.

The share price rose 40% in the last six trading sessions (perhaps in anticipation of good results) and is close to overbought territory (meaning price is overheated now and you can wait for a while for price to decline to make purchases).

Considering that it should not be impossible for the share to get a PE of 15 in the long term, the scrip is a good pick on declines.

  
Posted By     prjayachandran

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