COMPANY NAME- WELSPUN CORP             14-APRIL-10.

 RECOMMENDATION- BUY                   PRICE TARGET 190                                       CURRENT PRICE -155                   

                                                COMPANY BASIC INFORMATION

ISIN Id

INE191B01025

BSE Id

532144

NSE Id

WELCORP

INDUSTRY

Steel - Tubes/Pipes

Market Cap

3257.48

Book Value

134.22

EPS (TTM)

21.46

Price/Book

1.19

Face Value

5.00

P/E

7.42

Div(%)

40.00%

Industry P/E

7.13

P/C

5.55

Div Yield (%)

1.26

STOCK PRICE HISTORY( NSE)

All Time High   

539.00

All Time Low     

45.00

52 Week High   

295.75

52 Week Low     

143.65

 

 

 

 

 

 

 

 

 

 

Recommendatio -The counter is getting strong intermediate support around 140-145 levels after witnessing a steep decline from 250 levels in November 2010 to 150 levels in just one month. The stock was amongst the very first stocks to correct prior to the broader market and is now holding up to the December lows it made, when the broader market is seeing sharp declines. The stock is currently trading above its short   term moving averages and is showing very strong positive divergences on the daily as well weekly charts. The price pattern is also suggesting some accumulation undergoing in the counter and is therefore expected to once again lead the reversal in trend in broader markets. We recommend a Buy on the stock around 150 levels with a stop loss below 140 for a short term target of 190.