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The Welspun Group has interests in textiles, line pipes, flooring solutions, warehousing, roads, and oil and gas, and is laying out an expansion strategy for each of its businesses. The group is focusing on four major segments with an aim to build a robust business in each segment.
Daljeet Singh Kohli, Head of Strategy & Research at Vasuki India Fund, believes that the recent market correction provides an opportunity to buy stocks at cheaper prices. He suggests looking at sectors such as agrochemicals, autos and auto ancillaries, metals, and consumption companies. Kohli also mentions that IT stocks, although facing some delays, are still worth considering for long-term investing. Additionally, he highlights the potential growth in export textiles, particularly home textile companies.
The company's consolidated net profit rose to 1.97 billion rupees ($23.6 million) from 86.7 million rupees in the corresponding quarter a year ago, the home textile maker said in an exchange filing.
The Indian government has identified the establishment of a transhipment port at Galathea Bay and a mega port at Vadhavan as priority areas for the ministry of ports, shipping, and waterways. The government also aims to increase cargo transportation on inland waterways and coastal shipping. Additionally, plans for green shipping include technological advancements, availability of green fuels, infrastructure at ports, legal frameworks, and funding.
There are sectors which under perform for years and then they come back to focus. Thanks to the fact that the textile industry was completely dominated by China and other countries, the Indian textile industry has been in bad shape for decades. However, post covid, partially due to China Plus one narrative. Secondly due to the fact that the government has been focusing on manufacturing, textile stocks have come into focus. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum.
Welspun One Logistics Parks (WOLP) has partnered with Montra Electric, the electric vehicle arm of Murugappa Group, to develop a built-to-suit warehousing and assembly space in Chennai. The facility, spread over 3 lakh sq ft, will include a retail experience center and dedicated assembly space for small commercial electric vehicles. It is expected to commence operations by the second quarter of 2024. WOLP's logistics and warehousing park in Chennai is part of a Rs 2,500 crore investment memorandum of understanding with the government of Tamil Nadu. WOLP aims to create a portfolio of 16-18 million sq ft over the next few years.
After 6 months of relentless rally, mid-cap stocks witnessed some correction in the last three to four weeks. Will this correction last longer would depend on a couple of things. First earnings in this space and second foreign institutional investor ( FII) flows over the next two months and third is state elections results. At this point of time analysts are bullish on select midcap stocks, ones which have seen their score improving. Stocks from sugar, infrastructure and engineering are on the list. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
The in-house technology arms of Indian companies such as TVS, Shriram Group, Motherson, ITC, Godrej and even Patanjali Group are extending their services to external firms including some MNCs.