BWelspun Corp shares jump 6% after Jefferies initiates coverage with Buy rating. Should you invest?
Welspun Corp shares jumped nearly 6% after Jefferies initiated coverage with a Buy rating and a Rs 3,250 target price, implying 27% upside. The brokerage sees a multi-year upcycle in US and Saudi energy infrastructure spending, supported by Welspun’s capacity expansion, strong order book and growing overseas operations.
Welspun Corp shares jumped nearly 6% after Jefferies initiated coverage with a Buy rating and a Rs 3,250 target price, implying 27% upside. The brokerage sees a multi-year upcycle in US and Saudi energy infrastructure spending, supported by Welspun’s capacity expansion, strong order book and growing overseas operations.
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