Welspun Gujarat can test Rs 400: Vikas Sethi
Published on Friday, November 6th, 2009 at 6:26 PMAuthor: stockalert (2027 Articles)
Welspun Gujarat can test Rs 400, says Vikas Sethi, Managing Director, Sethi Finmart.
“Welspun Gujarat came out with excellent set of numbers. Their net profits also increased very substantially over previous years profit figures. What was very encouraging was that they even improved on their operating profit margin for this quarter it was around 16.36% compared with 10.77% which they reported last year. Further more actually they have a very strong order book of Rs 7800 crore at the end of September quarter. With their US manufacturing facility already having commenced commercial production and the new plant at Anjar is likely to commence production in the next six months; I expect very good times ahead for this stock. I expect the stock to touch around Rs 400 in about 6 months time.”
Source : MoneyControl
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