Stock to buy: Up over 50% in one year, expert suggests buying this textile stock trading near Rs 151, know target price

The Indian benchmark indexes, Sensex and Nifty closed largely unchanged on Monday, May 6, despite tumultuous trading. The rise in the country's information technology companies was counterbalanced by a drop in PSU banks, as investors expected US interest rate decreases. 

The Nifty50 declined by 0.15 per cent while the S&P BSE Sensex edged up by 0.03 per cent to end at 743,895.54.

Despite this, market expert Sandeep Jain recommends buying a textile company's shares for a long-term perspective. 

Stock to buy

Jain suggests investors buy Welspun Living. According to him, midcap and smallcap stocks are performing better. However, a slight decline is being seen in PSU stocks.

Welspun Living: Share price target

Jain recommends a 'buy' rating on the stock and suggests a target price of Rs 180 at the current market price (CMP) of Rs 150.50.

Why to buy Welspun Living stock

The expert said that one can invest money in this stock for the long term. The company has many brands. According to experts, this is a company with a good credit rating. This company has been the largest exporter of home textiles. The company has a good presence in the UK and America. The company has done good capex recently.

Welspun Living's fundamentals

The expert said that the company had presented excellent quarterly results. Talking about the quarterly results, a profit of Rs 235 crore was recorded against Rs 178 crore. The stake of domestic and foreign investors in the company is 13 per cent. Apart from this, the promoters' shareholding is 78 per cent.

(The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult their investment advisers before making any financial decision.)

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