Welspun India has resistance at Rs 74-75: Kunal Bothra

Welspun India has resistance at Rs 74-75, says Kunal Bothra, Sr Technical Analyst, LKP.

Bothra told CNBC-TV18, "Welspun India is a very short chart backed with very good volumes from around Rs 36-37 levels to Rs 65 what more can you want for the stock. It look very good on charts, coming out of its 200 DMA, once again positive indicator. We might see rally till continuing till around Rs 75-74 levels. That should be the first resistance for the stock."
The company's trailing 12-month (TTM) EPS was at Rs 8.53 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 7.50. The latest book value of the company is Rs 70.67 per share. At current value, the price-to-book value of the company was 0.9. The dividend yield of the company was 1.56%. Disclosure: I do not have any personal holdings in the above stock but we keep recommending to our clients.