Jefferies initiates coverage on Welspun Corp with a “Buy” rating, prompting the company’s shares to rise nearly 6% in early trading. The brokerage also sets a target price of Rs 3,250, which it says implies about 27% upside, according to Economic Times.
Jefferies’ thesis centers on a multi-year upcycle in energy infrastructure spending in the US and Saudi Arabia. The brokerage points to Welspun’s planned or ongoing capacity expansion, a strong order book, and a shift toward overseas business that it expects to carry higher margins. NDTV and Economic Times both link the expected earnings performance to these drivers, with NDTV describing a forecast of roughly a 33% compound annual growth rate for earnings per share over FY26–FY29 (as stated in its report).
While the outlets differ in emphasis—Economic Times foregrounds the share move and target price, while NDTV focuses more on the earnings growth outlook—they broadly agree on the underlying rationale: demand tailwinds tied to US-Saudi infrastructure spending, supported by Welspun’s capacity and order visibility.
