Target 50% returns from Welspun Gujarat
Welspun Gujarat has posted 146.27% growth in net profit for the quarter ended September 2007 at Rs 82.5 crore as against Rs 33.5 crore in same quarter of last year.
Net sales : up by 30.11% to Rs 928 crore Vs Rs 713.2 crore.
The current order book of Welspun Gujarat stands at Rs 5,500 crore
outlook: HDFC Securities has maintained buy rating on WelspunGujrat (WGSRL) with a target price of Rs 500 (upside of 48%). The revenues and profits of WGSRL are expected to grow at a CAGR of 41.6% and 82.6% between FY07-10E.
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