External broker reports(aggregated public sources), Axis Direct

Axis Direct

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

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

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

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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.

Welspun India

Initiating Coverage:Welspun India