External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul>
<li>At CMP, the stock trades at 18x FY22E EPS.</li>
<li>We assign a target multiple of 15x FY23E EPS (i.e. at 20% discount to TTM PE) and initiate coverage with a BUY rating with a target price of Rs 173/share, implying an upside of 23%.</li>
<li>Welspun India is our preferred choice in the home textile segment on account of attributes such as 1) Established brands and proven track record which will benefit from the shift from China sourcing, 2) Step-up in branded and innovative product launches, 3) Focus on new strategic business expansion, 4) Deeply nurtured long-term relationships with clients that help in sustaining headwinds, and 5) The company’s focus on achieving ESG sustainability over the long term.</li>
</ul>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>


At CMP, the stock trades at 18x FY22E EPS.
We assign a target multiple of 15x FY23E EPS (i.e. at 20% discount to TTM PE) and initiate coverage with a BUY rating with a target price of Rs 173/share, implying an upside of 23%.
Welspun India is our preferred choice in the home textile segment on account of attributes such as 1) Established brands and proven track record which will benefit from the shift from China sourcing, 2) Step-up in branded and innovative product launches, 3) Focus on new strategic business expansion, 4) Deeply nurtured long-term relationships with clients that help in sustaining headwinds, and 5) The company’s focus on achieving ESG sustainability over the long term.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Welspun India Limited is a home textile manufacturer with a global distribution network.

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Welspun India (WLSI IN)

Initiating Coverage:Welspun India

At CMP, the stock trades at 18x FY22E EPS. We assign a target multiple of 15x FY23E EPS (i.e. at 20% discount to TTM PE) and initiate coverage with...

Axis Direct

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