Welspun Living's stock price today: Welspun Living's stock price surged by 7.38 per cent to ₹163.90 on July 9, with a market capitalization of ₹15,927.94 crore.
The stock was trading in the green on the National Stock Exchange (NSE) at 2:06 pm. This increase brought the stock close to its 52-week high of ₹171.25, which it reached on January 31, 2024.
The company's impressive performance was driven by a 19.56 per cent year-over-year increase in revenue and a 16.44 per cent rise in profit. While revenue grew 6.82 per cent compared to the previous quarter, profit declined 17.41 per cent during the same period.
Over a month, Welspun's stock rallied by over 17 per cent. The company's stock has been in an upward trend as it has given a return of over 79 per cent in a year to date. The company's stock is currently down by 5.75 per cent from its 52-week high.
The company reported a 2.89 per cent quarter-over-quarter increase in selling, general, and administrative expenses, with a substantial 37.83 per cent rise year-over-year. Operating income improved by 10.02 per cent from the previous quarter and surged by 58.61 per cent year-over-year.
Earnings per share (EPS) for Q4 stood at ₹1.52, reflecting a 16.33 per cent year-over-year increase. Welspun Living has delivered a return of 5.71 per cent over the past week, 18.06 per cent over the last six months, and 7.72 per cent year-to-date.
“After April 29, 2024, on July 9 Welspun Living gave a breakout above 154, but the Relative Strength Index (RSI) has entered the overbought zone at the level of 70. Hence, some consolidation is expected, and for fresh buying, we can wait for the stock to dip till 9 days Exponential Moving Average (EMA), 153 for the target of 185 and 198,” said Nitin Kedia, Founder of Kedia Fincorp.
