Welspun Corp shares jumped nearly 6% during Thursday's trading session after Jefferies initiated coverage with a Buy rating and a price target of Rs 3,250, citing a multi-year upcycle in energy and water infrastructure spending in the US and Saudi Arabia.
The target implies a potential upside of 27% from the brokerage's reference price of Rs 2,553.45. Jefferies valued the stock at 17 times its estimated September 2028 enterprise value-to-EBITDA.
