Welspun Corp has target of Rs 300: Tater

Welspun Corp has target of Rs 300, says Aashish Tater, Head of Research of Fort Share Broking.

Tater told CNBC-TV18, "Because of some bad news into Welspun Corp, the stock has been battered down to a level where we are really comfortable playing into the stock from a longer term perspective. If I see the financials of the company, the company can easily pose Rs 28-30 mark in terms of EPS for the next fiscal that means the stock is not trading into 5 digit kind of or so." He further added, "If I take longer term picture for this particular stock, the stock should be accumulated between Rs 120-140 odd levels and should be hold from a very long-term perspective because this is one business which has almost a monopolistic kind of business and has got huge entry barriers in terms of some new players want to enter into the field. So business that is available at a PE multiple of less than 5 from a year