Wimbledon may Push demand - A target Price of INR 100 ,120 CMP 81 Sl 79
Welspun India, leaders in Towel manufacturing announced an expansion of 10000 MT for towels during FY 2017-18 with an aim to increase its total revenue from India market to 20% by 2020.
Welspun is also planning for a manufacturing facility option in Egypt to reduce cost by using premium Egyptian cotton. With Wimbeldon is about to come, higher sales figure is expected for quarter ending June 2017.
The clear vision of targeting sales growth from Domestic market makes it a buy with atleast a target price of INR100 in next 2 months.
Welspun India, leaders in Towel manufacturing announced an expansion of 10000 MT for towels during FY 2017-18 with an aim to increase its total revenue from India market to 20% by 2020.
Welspun is also planning for a manufacturing facility option in Egypt to reduce cost by using premium Egyptian cotton. With Wimbeldon is about to come, higher sales figure is expected for quarter ending June 2017.
The clear vision of targeting sales growth from Domestic market makes it a buy with atleast a target price of INR100 in next 2 months.